MT Gox Postpones Bitcoin Distribution

MT Gox Postpones Bitcoin Distribution

Yet another deadline has been pushed back at the bankrupt MT Gox exchange which is yet to re-distribute some 140,000 bitcoins now nearly seven years on.

The MT Gox trustee, Nobuaki Kobayashi, was to submit a rehabilitation plan by today, but he again asked for it to be pushed back.

“The Rehabilitation Trustee filed a motion to seek an extension of the submission deadline of the rehabilitation plan at the Tokyo District Court, and, on October 14, 2020, the Tokyo District Court issued an order to extend the submission deadline for the rehabilitation plan to December 15, 2020,” the court said.

That makes this one of the longest running bankruptcy ever, with it unclear when the case will be closed.

As revealed previously, the vast majority of claims have been assessed, but it does not appear bitcoiners are any closer to receiving their assets despite paying the trustee some $200,000 a month for this specific purpose.

We’ll now have to wait for almost Christmas to see if some 10,000 bitcoiners across the globe are to receive a very special present indeed.

It appears unlikely for anytime soon, but such complex bankruptcy cases usually take six years, while this one is now nearing seven.

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