Topic: Unconfirmed tweet that MtGox lawyer making statement now. - page 3. (Read 4458 times)

This should be interesting, I  wonder what the real reason is behind this debt. Considering they haven't filed for bankruptcy yet, there may be a way they can recover the funds, they are just not currently accessible. Also, this means that they are likely going to try to come back.

I don't think so, why the fu.ck would the fat ass give back something at this point.

Who got bitcoins on the exchange? Is it going to get something?

Best regards,
ilpirata79

They didn't file for bankruptcy, they filed for bankruptcy protection; huge difference.

I guess you missed that class that one day, huh?

Do we have any more information regarding the statement? What about the exact nature of the liabilities? anything?

this is turning into a freak show that would hardly have been enough to cause bankruptcy

just goes too show the corrupt bankers have accepted defeat now every million they can con

out of you is a plus

They have $63 mln more liabilities than assets.... i.e. they can't give everyone 100% back

You haven't studied them very well it seems or you know that you don't need to have no assets in order to be insolvent.

MtGox has not previously stated that they didn't have any Bitcoin.  That's something which the community latched onto based on various pieces of information provided by others.

They have a USD deficit of over $20 million.  It's perfectly possible for them to have a lot of Bitcoin and still be short another $40 million even when the BTC in known MtGox accounts are taken into account.

I have no doubt the actual filings will be made public by the media soon.  If they've lost access to their cold wallets - as some have theorised - that could explain why the nominal debt is only $60 million.  The cold wallets would still technically count as an asset.

Your talking to someone who has studied just about every major bankruptcy filing in the last 20 years

he still has the coin ? check your official Mtgox addresses so he dosn't want to give it back so he is Bankrupt 

Do you even know what Bankruptcy protection is? Let me give you a clue, it doesn't mean the don't have any money.

"Bankruptcy protection" is the process by which a debtor is "protected" by a court while they reorganize their finances.

Protected from what? Protected from excessively hasty or harassing creditor actions, such as foreclosures, repossessions, law suits, harassing telephone calls, and the like. A more accurate lay-terminology for filing for "bankruptcy protection" would be filing for "financial reorganization" or "financial restructuring" under Chapter 7 or Chapter 13.

DJ Mt. Gox Files for Bankruptcy Protection





By Eleanor Warnock and Takashi Mochizuki
     TOKYO--A lawyer for Mt. Gox announced at a news conference at the Tokyo
District Court that the embattled bitcoin exchange was filing for bankruptcy
protection and that Mt. Gox had outstanding debt of about Yen6.5 billion ($63.6
million).
     The exchange has been under fire from investors since it stopped bitcoin
withdrawals in early February, citing a technical issue that potentially made
fraudulent withdrawals possible.
     On Tuesday, Mt. Gox, which at one point handled more than 80% of trades in
the virtual currency, stopped all transactions, dealing the severest blow to
the bitcoin industry yet and raised concerns about a lack of protection for
users. Several Mt. Gox investors say they have little hope of recovering their
funds, with some individual investors saying they had bitcoins valued at
hundreds of thousands of dollars in Mt. Gox.
     Atsuko Fukase contributed to this article
     Write to Eleanor Warnock at [email protected] and Takashi Mochizuki
at [email protected]
 
Subscribe to WSJ: http://online.wsj.com?mod=djnwires

  (END) Dow Jones Newswires
  February 28, 2014 04:50 ET (09:50 GMT)
  Copyright (c) 2014 Dow Jones & Company, Inc.- - 04 50 AM EST 02-28-14
 
-----------------------------====================------------------------------
                              Copyright (c) 2014

Well, either they are fucked, so I sell my coin before they tank, or they are fine so I buy some coin before they rocket. Not hard

Oh, they're fucked, temporarily into fiat.

All I want is more coins, nothign wrong with that.

Only $60mln?  The BS out of gox continues.

That's it boys and girls, the fat lady has sung. Whoever had bitcoin and/fiat in MtGOX has officially lost every satoshi/cent.

they still have the coin 

you cannot file for Bankruptcy when your guilty of Fraud

if the Japaneses government accepts this they are Liable for 100% of the losses

do a search of your official Mtgox addresses the coin is still in there

I found 6000 with a brief search 

They filed for bankruptcy protection.

https://twitter.com/WSJ/status/439333233013309440

*DJ Mt. Gox Lawyer: Outstanding Debt Y6.5B
*DJ Mt. Gox Lawyer: Filed For Bankruptcy Protection
*DJ Mt. Gox Lawyer: Accepted By Tokyo District Court

So around $ 60 mln outstanding debt

Buy? BUY BUY BUY wait no SELL SELL SELL! The community at the moment ^

https://twitter.com/misssaxbys