This site is for all creditors of Mt Gox bankruptcy proceedings. We’re coordinating legal action to stop more than $2,500,000,000 surplus from going to the people responsible for the exchange when it was hacked, and instead have it shared among creditors who were victims of crime. This is a grass roots group, not a commercial venture. This, and adjacent resources, like the member’s forum, and the wiki are created by members, for members.
We are currently over 800 creditors. Each has contributed $100. We represent an estimated claim size of over 80kBTC, making us the largest body of creditors. We’ve hired a lawyer from a top-4 Japanese law firm. We have a paid administrator employed by this group and a team of 10 volunteers. And we are growing. If you are a Mt Gox creditor, please join us to share the legal costs of our lawyer.
The Bankruptcy Trustee has valued BTC claims at the market price at the time of bankruptcy. In the last few months the value has increased to around 20 times that historic value. As a result the bankruptcy trustee now controls more assets than liabilities.
The trustee proposes to give the excess value to shareholders, (i.e. the people who were in charge when the bankruptcy occurred,).
Unless this decision is legally challenged, the court will follow the trustee’s recommendation.
The legal challenge costs money and this website is to co-ordinate that fundraising and share information that comes from our lawyers.
The priorities for the legal challenge are;
- To obtain a distribution which allows creditors to benefit fully from excess value created by the asset they were invested in at the time of bankruptcy.
- Prompting a timely distribution as assets become available.
- To see what assets can be recovered from BTC-e seizure in the US
- To foster a better communication channel with the trustee
Please note: The advice and legal understanding on this public website is opinion, and does not constitute legal advice. For accurate legal advice please consult a lawyer. If you don’t have one, join our group to share in ours.