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Credotors of exchange Mt. Box require to pay off debt

Creditors of cryptocurrency exchange Mt. Box require compensation

Creditors of the defunct cryptocurrency exchange Mt. Box started preparing the claim for the payment of compensation that is owed to them in accordance with the court's decision.

Last Thursday the lawyers, representing the interests of creditors of Mt. Box, introduced amendments to the civil rehabilitation plan of the exchange. This plan was originally issued in November last year for the purpose of withdrawal of the exchange from bankruptcy.

The document was published on June 29, a week after the approval of last year's petition by the Tokyo court. Because lenders have deposited in Bitcoin and Bitcoin Hash, the lawyers insisted on the payment of compensations in these cryptocurrencies, and not just money.

In the updated version of the document, the lawyers said that BTC and BCH should be forwarded to the stock exchanges, where lenders already have or can quickly open accounts. According to one of lawyers, the majority of assets, including 166 thousand BTC, 168 thousand BCH and other derivatives, is still in Mt. Box.

At the current rate of these assets is estimated approximately $ 1.3 billion. If the rehabilitation plan is approved, Mt. Box will begin to repay the debt in may or June 2019. In the filed lawsuit States that all these funds should be returned to the creditors in one payment.

At the moment the lawyers of the creditors are collecting additional comments to the final approval of the rehabilitation plan and to forward it to trial in February of next year. In addition, they propose to eliminate all the digital currencies (besides BTC and BCH) in the accounts of Mt. Box because their courses may be subject to significant changes. For the payment of compensation on liquidated assets lawyers offer the exchange to use conventional money.

Mt. Box once one of the largest exchanges for bitcoin trading, went bankrupt in 2014 after stealing 744 thousand BTC. For several years, the creditors involved in litigation, requiring the exchange of compensation. Last year's growth of value of Bitcoin has forced lenders to issue a petition to start the process of civil rehabilitation, Mt. Box and return its assets.

At the same time a Trustee of Mt. Box kept 202,195 BTC and eliminated more than 30 thousand of them in cash in March of this year. Since the court approved the petition for civil rehabilitation, the exchange no longer will need to eliminate data cryptocurrency assets. In addition, a representative of the Mt. Box, Nobuaki Kobayashi said that in August the organization will provide lenders a new system for filing applications for compensation.


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