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Author Topic: Mtgox payouts choice  (Read 45 times)
hanz (OP)
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January 01, 2023, 11:43:54 AM
Merited by hugeblack (4), vapourminer (1)

Hi folks,

Is there anyone here that can shed some light on the Mtgox payout options?

I must say that I don't understand them...

Proportional Repayment Amount
Regarding the balance remaining after the Base Repayment Amount in 2.(1) above is deducted from the allowed rehabilitation claims amount in 1.(2) above, you can receive proportional repayment in the form of either (a) Intermediate Repayments and Final Repayment or (b) Early Lump-Sum Repayment according to your selection. Please note that if you do not select either (a) Intermediate Repayments and Final Repayment or (b) Early Lump-Sum Repayment, pursuant to the Rehabilitation Plan, it will be deemed that you selected (a).
You can toggle between displays of the repayment amounts for (a) Intermediate Repayments and Final Repayment and (b) Early Lump-Sum Repayment by clicking on the tabs below.
If you select Intermediate Repayments and Final Repayment
As an Intermediate Repayment, you will receive repayment based on an Intermediate Repayments rate of 6% at the same time as the Base Repayment, and you will receive the remaining portion of the proportional repayment as the Final Repayment after it is determined whether or not all dispute claims of all rehabilitation creditors actually exist and the amount of such claims, and after the Rehabilitation Trustee completes the conversion of all non-converted assets of the rehabilitation debtor that the Rehabilitation Trustee determines to be appropriate for conversion. (Please note that in some cases, multiple Intermediate Repayments may be made prior to the Final Repayment, but there are no such plans currently.) Please note that the intermediate repayments are the advance payment of a portion of the Final Repayment. For example, if the Final Repayment rate is 23%, because 6% will have already been paid as the intermediate repayment, in the Final Repayment, the difference between these figures, i.e. 17%, will be paid.
The timing and repayment rate for the Final Repayment will be decided depending on the time when the claims determination proceedings (assessment procedures and opposition litigation) for all disputed creditors are completed, the particulars of the disputed claims determined through the claims determination proceedings, and any changes going forward in the value of Rehabilitation Debtor’s property, and thus at the present time the timing and repayment rate for the Final Repayment are undetermined. However, on the screen that appears when you click on the “(a) Intermediate Repayments and Final Repayment” tab, you can run a simulation of changes in the Final Repayment amount that might be paid to you depending on the amount of your disputed claims that are determined. Please note that there is no guarantee of repayment of the amount appearing in the simulation, which merely displays, for reference purposes, a rough estimate of the Final Repayment amount.
If you select (b) Early Lump-Sum Repayment, you will receive repayment based on the 21% Early Lump-Sum Repayment rate at the same time as the Base Repayment, and repayments to you in principle will end with that. You will not be eligible to receive the Intermediate Repayments or Final Repayment.
The BTC Claim/BCH Claim amounts indicated below are the amounts that will be the basis for calculation of the repayment amounts to rehabilitation creditors; the amounts indicated here are not the amounts that will actually be paid to you. If you have BTC Claims/BCH Claims, after making a selection on this screen for proportional repayment, you will be taken to a screen for selecting BTC Claims/BCH Claims repayment method. See the explanation there as well for details.

The choices are:

A. Intermediate Repayments and Final Repayment
B. Early Lump-Sum Repayment

Choice B is a much larger amount. Why would anyone choose A?

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January 03, 2023, 09:33:19 PM
Merited by hugeblack (4), vapourminer (1)

As far as I can tell, there is a chance (but no guarantee) that A will get a slightly larger overall amount than B once all the dust settles - eventually.

Basically everyone gets the equiv. of 200,000 JPY, then you get 21% of the remaining crypto balance of your claim if you opt for B (early lump sum repayment). If you don't choose and everything pans out as currently estimated, you would eventually get 23% ish after all is paid out. But there is no guarantee of that, and I would not hold my breath.

For most people opting for early payout is the right choice. You are taking 90% of what you will ever get, now, vs holding out for the other 10% at some point in the future, which may never materialize.

That's my read, but I'm no lawyer and this is not legal or financial advice. Do your own research and make your own decision.

Hope that helps!

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