Ben McLannahan, writing in today’s Financial Times, is reporting that Mt Gox creditors in Tokyo have demanded payments to them be paid in the form of bitcoins rather than cash. Mt Gox was once the largest online exchange but went offline in February of this year and revealed, or more accurately claimed that it had ‘lost’ 750,000 of its clients bitcoins as well as 100,000 of its own. Gox later claimed to have ‘discovered’ 200,000 lying around in an old digital file. In March of this year I wrote that $113 Million of bitcoins may be moving through the blockchain, and many of Mt Gox’s creditors appear to be somewhat doubtful that their bitcoins were, in fact, ever lost.
Daniel Kelman, a US Layer, resident in Taiwan, today informed the notified trustee to the Mt Gox bankruptcy, Nobuaki Kobayashi, of his intention to form a ‘rebel group’ of creditors seeking to receive their payments in the form of bitcoins.
At the first gathering of creditors at a Tokyo District Court on Wednesday, Daniel Kelman, a New York-qualified lawyer now resident in Taiwan, notified trustee Nobuaki Kobayashi of his plans to form a rebel group. McLannahan explains that under Japanese law, a committee representing more than half of creditors has the power to “participate” in proceedings, so long as it satisfies certain conditions and is recognized by the court as representing the interests of creditors as a whole. Kelman explained that it was their view that any large scale sale of bitcoins for cash could lead to a depressed market for Bitcoin, and that is not in the interest of the creditors.
Read more
http://altcoinhunters.com/2014/07/mt-gox-creditors-demand-payment-in-bitcoins/
