Gox updated their page "Civil rehabilitation" March 2nd -

[notig]

To anyone concerned

Mark Karpeles
Representative Director
MtGox Co., Ltd.
Shibuya 2-11-5

Shibuya-ku, Tokyo

ANNOUNCEMENT REGARDING AN APPLICATION FOR COMMENCEMENT OF A PROCEDURE OF CIVIL REHABILITATION

An overview of the situation should be published here shortly (probably on March 3, 2014 (Japan time)).

Contact information

A call center has been established to respond to all inquiries. The call center is planned to start on March 3, 2014. All inquiries to MtGox Co., Ltd. should be made to the following telephone number:

Telephone number   +81 3-4588-3921
Working hours    Monday to Friday 10am to 5pm (Japan time)

Please refrain from contacting the office of the supervisor/investigator.

[btbrae]

A quick google of "Civil rehabilitation" seems to indicate it's merely a way of allowing the transfer of ownership of the company, via a takeover, for example. Anyone clarify further?

[g27wr]

A quick google of "Civil rehabilitation" seems to indicate it's merely a way of allowing the transfer of ownership of the company, via a takeover, for example. Anyone clarify further?

Or it means that Mark can continue business as usual under a 'corporate rehabilitation plan', which I would assume getting the business back on track and paying back lost BTC.

[Nagle]

A quick google of "Civil rehabilitation" seems to indicate it's merely a way of allowing the transfer of ownership of the company, via a takeover, for example. Anyone clarify further?

It's one of Japan's six forms of bankruptcy. See the threads in Legal.

[hostmaster]

at least some kindness good!

[smoothie]

Doesn't appear to me that selling the company to another entity will remove the burden of lawsuits Mark and MTGOX will face in the coming months and years.

Likely this will be a long long 2-3 years of Mark's life.