Close to the ending of the MtGox’s bankruptcy proceeding

We are close to see the ending of MtGox’s bankruptcy proceeding. In this sense, Tokio District Court has issued its last report with this regard. We can see the real amount of assets owned by the company.

In particular, we can highlight the following items:

  1. Regarding the figures of the proceeding, the number of bankruptcy creditors is 24,704 and the amount of btc managed by the bankruptcy estate is 202,159.34071488 bitcoins. On the other hand, the total amount of the bankruptcy claims is JPY 2,663,394,225,570 (it means approx. 1,743,232,794.82279 bitcoins with the current exchange). From this amount, the three largest creditors amount JPY 2,533,517,211,285.
  2. Court is investigating whether or not the BTC have disappeared in MTGOX for which the Court has delegated such work to Deloitte Touche Tohmatsu LLC and ReEx Accounting Firm.
  3. There are several affiliated companies to MTGOX which have loan receivables against them:
  • TIBANNE Co. Ltd.- Parent company of MTGOX, the Court has filed bankruptcy claim against it. Amount of the loan receivables: JPY 25,841,657,102
  • K.K. SHADE 3D.- Subsidiary of TIBANNE Co. Amount of the loans receivables: JPY 338,139,321, which has been agreed to be sold to the company New Horizon II Investment Limited Partnership for JPY 46,686,362
  • K.K. BITCOIN.CAFE.- The court filed in the process of bankruptcy proceedings against this company, which is currently being heard before the Tokio District Court.
  • MARK KARPELES (arrested on August the 1st 2015 and currently under detention).- Amount of the loans receivables: JPY 136,175,781

Finally, the report states the following:

Probability of Distribution: “At the current time, the probability of distribution and the timing and method thereof, etc. have not yet been determined. I continue to consider whether or not I will make distributions by way of distributing BTC when bankruptcy distributions are made”.

Here are the current Assets and Liabilities, Incomes and Expenditures and the Balance Sheet of MtGox:

Note: In the following days we will post a series of articles explaining the MtGox case in depth. Jorge Ordovás, who was a victim of this case will explain to us every issue related to the procedure.

TheBitcoinNews.com – leading Bitcoin News source since 2012