Topic: MtGox withdrawal delays [Gathering] - page 3. (Read 908459 times)

Has anybody else got an e.mail today from mtgox_assessment(at)noandt.com with subject Notice of Objection to Your Rehabilitation Claim(s) (Zx-xxxxxx)

Is this valid?

Thanks and best regards,
Micky25

I'm the same... I have screenshot AND the screenshot verified by the data hack dump and I was still rejected.

Anyone know a good lawyer in Japan that understands English and the Mt. Gox mess?

Thanks,
I've contacted the support but I fear that they tell me that they are here just for technical support.

You might contact them here:

If you cannot log into the System and check the results of the approval or disapproval of your filed claims online, please contact our email support at the following email address:
Email: [email protected]
 
Rehabilitation Debtor: MtGox Co., Ltd.
Rehabilitation Trustee: Nobuaki Kobayashi, Attorney-at-law

Hey guys,

I have filed the rehabilitation claim, and claim my BTC (3digits) and of course my balance was on 0.
Of course my claim was rejected, but when I sent my claim there was no way to send screenshots that show my balance in 2014.

Now that my claim has been rejected I want to send this screenshots to prove that I did have BTC on my account when hacked.

How can I send it to them ? there's no email, and nothing written anywhere about this kind of case ??

I should not be the only one asking, because I saw that 1/4 of the claims had been rejected.

Anyone can help me ? 

April 26th is the deadline for submission of rehabilitation plan proposal.
I am a lot more interested to find out when will the Coinlab lawsuit be sorted out.

Sometimes it is difficult to determine a schedule for various dates for the next events - including distribution possibilities or resolution of outstanding claims in order that distribution might be authorized.

In that regard, the above reddit thread seems to imply that the next event is the next October 1, which is the next scheduled creditors' meeting.  Yet, in the meantime, it appears that on April 26, there is some kind of credit distribution schedule that is due to the court, according to something mentioned in the below linked article.

https://qoinbook.com/news/mt-gox-whale-secures-rehabilitation-trustee-balance-of-623-million/

>>>>"A proposal to outline the timeline and terms of the civil rehabilitation process is due on April 26."<<<<<

Reading this thread at r/mtgoxinsolvency might help:
https://www.reddit.com/r/mtgoxinsolvency/comments/b39h60/march_20th_2019_creditors_meeting_qa/

Is there any news/rumours about what's going to happen now that the deadline for claims has been reached and on a side note (not strictly related) Tokyo court has promulgated a guilty verdict against Karpeles?
Thanks

Any update on that??

All official documents posted on mtgox site https://www.mtgox.com/

Do you have links for these informational update points?

Last week the trustee published the non-exchange claims. In them it appears there is a claim of $16bn which the Trustee has rejected. If the applicant(s) of this/these claim(s) chose to dispute the Trustee's decision there could well be a delay while the merits of the claims are litigated infront of a judge.

This situation is comparable to Coinlab's claim under bankruptcy. In that it seems at first glance spurious and that it prevents any distribution of funds. My current view is that it's a strategically made claim, designed specifically to block distribution to creditors in order to leverage a settlement from the Trustee.

I'm waiting for legal advice on the timeframe we can expect for a dispute to be settled.

The prosecutors in a court case against former Mt.Gox CEO Mark Karpelès have proposed a 10 year prison sentence.

https://coincodex.com/article/2740/prosecutors-want-10-year-jail-sentence-for-mtgox-ceo-mark-karpels/

Mt.Boxes bankruptcy trustee Nobuaki Kobayashi sold $230 Million worth of BTC and BCH between March and June!

https://coincodex.com/article/2395/mt-gox-bankruptcy-trustee-says-he-sold-230-million-worth-of-btc-and-bch-between-march-and-june/

Mt. Gox, the world’s biggest cryptocurrency exchange until 2014 has taken measures to ensure that its former users get their share of compensation for their lost money, as Nobuaki Kobayashi, the civil rehabilitation and bankruptcy trustee of the firm has recently offloaded $230 million worth of Bitcoin and Bitcoin Cash, as per the document released on September 25.

The former giant in Bitcoin trade was hacked four years ago, resulting in the loss of millions of dollars worth of cryptocurrency and its eventual bankruptcy. Mt. Gox has since been working on the rehabilitation of its users by implementing measures such as selling cryptocurrency for fiat money.

According to calculations by Bloomberg, the latest disposal by the trustee has got an average price of $8100 per bitcoin, which has raised the balance in their account to approximately USD 620 million.

    Further, in a document released by the trustee, it is revealed that the trust is in possession of “a suitable amount of money to secure the interests [of] BTC creditors under the Bankruptcy Proceedings in connection with BTC claims to be treated as non-monetary claims under the Civil Rehabilitation Proceedings.”

In addition, the trustee has also... To Continue Reading Click Here

If this all works out as planned, 6% is definitely a fair rate of return for fiat. ... and yes, giving an additional opportunity to make claims is fair and also paying back bitcoin in bitcoin is fair too - even though there is going to be decently sized socializing of losses.

Done ! 
Side note: 6% interest rate per year on the cash claim, nice.

Creditors can now (and should, or they'll get nothing) file the CR claims:
http://www.mtgox.com/img/pdf/201808_announcement_en.pdf

Latest unofficial update, from a meeting of lawyers with Kobayashi:
https://www.reddit.com/r/mtgoxinsolvency/comments/96x3vv/kobayshis_feedback_on_mt_gox_legals_cr_plan/
For those too lazy to click on the link, copied most of it here:

Atmosphere was good.

1/ Fiat claims honoured as under Bankruptcy - no comments.

2/ Sekido made it clear we don’t want any more sales. Kobayashi didn’t say yes, but we didn’t receive any specific objection. Didn’t find anything in his reaction that would cause me to believe he was planning more sales.

3/ No Benefit to shareholders: Tibanne may have claim admitted. Kobayashi has counter claim against Tibanne under their bankruptcy of Tibanne. [I believe our claim against Tib is bigger than theirs against MtG] Don’t know if it’s accepted. Might be able to off set claims or money will go and come back. Either way Kob is aware of the issue and planning a solution in creditors best interests.

4/ Alt coins:
Trustee’s reaction is that it’s not easy to seperate keys for altcoins. It’s challenging. If we [Mt Gox Legal] can present a safe way for the trustee, it may advance the situation. But it’s not easy for the trustee to conduct this because of technical security. After the first distribution, it might be easier for him to sell the key.

Kobayashi understands alt coins and their value.

His question to us: How to auction the key?

5/ Mixed claims - no issue

6/ Timetable for distribution, Kob agrees to timeliness is important.

7/ Distribution Channel.
There was a clear response from trustee: distribution to private wallets is very difficult. so they are very reluctant. Distribution for BTC is it’s necessary to have an exchange. We emphasised more exchange options creditors have, the better for creditors, but there must be a limitation, cos trustee cannot accept unreliable exchanges. They need to execute some contracts, so exchange needs to have solidity to be a good for counterparty. Also, the approval of the court is required. Kob is Open to options, not fixed their minds on which exchange. They want to understand the need of the creditors, depending on the need of creditors around the world. That’s the basic requirement of the law. Need to cover all over the world where creditors exist. - Appreciate our input on this.

Kob’s position on this is very strong on this.

Kob cannot take responsibility, once distribution is completed there is no money for compensation. Clear need to have limited liablilty for trustee. Once creditor choose exchange, and assets are transfered. After that, if there is a problem trustee is not liable.

Possibility that there are creditors who cannot make an account on an exchange for geographic reasons. - In that scenario the suggested option is to convert claim to cash and send via bank. That kind of option may be necessary. In this case the trustee will need to sell some btc in order to distribute cash. Trustee will need proof of id.

Distribution of cash: not clear, but Sek didn’t hear anything negative for cash distribution to either bank or exchange. - reaction not negative. Open to offering distribution to both bank or exchange.

8/ The response to this point is on the Mt Gox Legal forum. For all creditor's interest I'm not going to share it publicly here.

9/ Trading records.
Kobs reaction was: Not easy. It may require costs. We [Mt Gox Legal] should make a more specific request. Issue of equal treatment may come up, if limited number of creditors need to this, Kob can use that as an excuse to avoid it. - Need to show how much demand there is for this.

[I raised the counter point that this information is an asset of value to creditors and should be considered as such. We need to go back with a sense of how many creditors need this (a proportion, or which jurisdictions) and how the information could be accessed via the online filing system) - it may be that creditors who want/need this may have to pay for it individually.]

Questions from Kob:

Geographic variation of memebers of MtG Legal, to consider which exchange is appropriate or not? He wants to have local information which exchange works. Creditors from local area will have infomation.

We requested face to face meeting after creditors meeting in september. Waiting for response.

AOB/ claims open by the end of this month as per memo on website.