The deadline for compensating creditors of Mt Gox has been pushed back to next year due to unanticipated delays, according to Nobuaki Kobayashi, the trustee. Talks with banks, fund transfer service providers and designated cryptocurrency exchanges have caused the delay, preventing the original repayment deadline from being met.

Mt Gox Trustee Delays Deadline for Rehabilitation Plan Submission

On September 21, 2023, Nobuaki Kobayashi, the trustee responsible for distributing funds to creditors of Mt Gox, provided an update on the repayment process. He stated that the October 31, 2023, deadline would not be met due to extended negotiations with certain payment providers. Hence, the repayments will commence in the following year.

In a letter, Kobayashi announced that “With the permission of the Tokyo District Court, the rehabilitation trustee has changed the deadline of the base repayment, the early lump-sum repayment, and the intermediate repayment from October 31, 2023 (Japan Time) to October 31, 2024 (Japan Time), respectively.”

It has been nine years since the editors were supposed to receive their payments, totalling 141,686 BTC, 142,846 BCH, and 69,776,002,441 yen. Despite the delay, the trustee is trying to ensure that the creditors who have fulfilled their claims receive their funds as soon as possible.

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The creditors might receive a payment by the end of this year. According to the letter, the rehabilitation creditors who have provided the necessary information to the rehabilitation trustee will see repayments made in sequence as early as the end of this year.

However, this schedule is subject to change, as stated by Kobayashi, who leads the rehabilitation team.

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