Creditor Mt. Gox will have more time to decide which repayment methods they want to pay and register their payer information on the defunct crypto exchange.
In an announcement on January 6, the trustees of Mt. Gox Nobuaki Kobayashi stated that the previously announced deadline for repayment options was January 10, now it has been moved to March 10 citing “progress by rehabilitation creditors” in the selection and registration as the reason for the change in the deadline.
The announcement also called on creditors to complete the necessary steps before the new deadline. The update states that rehabilitation creditors who fail to complete the selection and registration within the new deadline will not be able to receive repayments or in some cases may have to bring documents to the central office of the exchange to receive repayments in Japanese Yen. The announcement reads:
“Rehabilitation Examiners will start confirming the contents of Selection and Registration, etc., after this time in order to be able to pay back as soon as possible after March 10, 2023 (Japan time).”
The update also clarifies that those who have already completed the process do not have to do it again. Additionally, the update asks those who have completed the process not to revise their registration to make the confirmation process smoother.
After the change of choice and registration, the trustee also obtained the court’s permission to move the deadline for basic repayment, initial lump-sum repayment and intermediate repayment. As of July 31, 2023, the current deadline has been moved to September 30, 2023.
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Back on August 29, rumors of a massive Bitcoin (BTC) dump from Mt. Gox went viral on social media. However, the lenders of the inactive trading platform denied the rumors and said that they are still unable to register where they can receive the loan funds of Mt. Gox.