Mt.Gox victims can now vote on a draft rehabilitation plan. However, the proposal will only be passed if a majority vote for it. According to rehabilitation trustee, Nobuaki Kobayashi, the deadline for voting is set for October 8, 2021.
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In order for the rehabilitation plan to be approved, both of the following are required:
- The agreement of a majority of the number of voting rights holders voting on the draft rehabilitation plan.
- The agreement of not less than one half of the total amount of the voting rights holders.
Mt.Gox was declared bankrupt in 2014, and in mid-2018 it was decided to start a rehabilitation process against it. Kobayashi was expected to submit the plan by the end of the same year, however, it had been postponed several times, with the deadline for the last postponement expiring today.
The rehabilitation will allow lenders to receive payments in cryptocurrencies. Currently, approximately 138,000 bitcoins (EXANTE: Bitcoin) are stored in the Mt.Gox wallets, which were worth $83 million in 2014 and have increased to $5.2 billion today.
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