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Rehabilitation plan deadline for Mt. Gox extended by Tokyo Court

Rehabilitation plan deadline for Mt. Gox extended by Tokyo Court
  • The deadline for the submission of rehabilitation plans has been extended by the trustee of the infamous Japanese Mt. Gox.
  • Going off the official announcement published earlier this week, Nobuaki Kobayashi filed a motion with the district court to extend the submission deadline for the rehabilitation plan.

The deadline for the submission of rehabilitation plans has been extended by the trustee of the infamous Japanese cryptocurrency platform Mt. Gox.

Going off the official announcement published earlier this week on the company's website, Mt. Gox Rehabilitation Trustee Nobuaki Kobayashi filed a motion with the Tokyo district court in order to extend the submission deadline for the rehabilitation plan. At the end of last week of the 27th of March, the court released an order to extend the deadline until the 1st of July this year.

A similar extension was granted to Kobayashi in April last year which pushed the deadline for that time to October 2019.

After a rehabilitation plan is sent and submitted, former uses of the now-defunct exchange might be able to receive some of the funds back. But it’s worth saying that any use is reading this shouldn’t get their hopes up as the announcement was quite vague. It cited in the announcement, “matters that require closer examination with regard to the rehabilitation plan”.

This is why we always say please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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