Tibanne Co., Ltd, the parent company of the infamous MtGox, Co, Ltd, is subject of an application to commence bankruptcy proceedings for their company. This is great news for everyone who was a victim of the Mt. Gox “collapse”, as things finally seem to be moving ahead in order to come to a conclusion. Bitcoin users will hopefully be able to leave this debacle behind them sooner rather than later.
Many Bitcoin enthusiasts around the world have been waiting for the parent company of Mt. Gox to be declared bankrupt, in order to continue with the proceedings in court. Earlier today, a PDF showed up on the Mt. Gox website, signed by Nobuaki Kobayashi, Attorney-at-law and Bankruptcy Trustee of Mt. Gox.
“ While I have continually and strongly claimed against TIBANNE Co., Ltd. (“TIBANNE”), which is the parent company of MtGox Co., Ltd. (“MtGox”), for repayment of the loan receivables that MtGox has against TIBANNE, repayment from TIBANNE has not yet been made.”
None of that news will come as a surprise to anyone, otherwise we would have heard of a positive turn of events in these proceedings. However, it is good to see that action is finally being taken by the Mt. Gox Bankruptcy Trustee in order to move things along. The Mt. Gox debacle has been hanging over the heads of Bitcoin enthusiasts worldwide for far too long already.
“Accordingly, on January 29, 2015, I applied for commencement of the bankruptcy proceeding for TIBANNE, as a creditor thereof, with permission from the Tokyo District Court. In response, on January 30, 2015, the Tokyo District Court issued an order of commencement of the bankruptcy proceeding for TIBANNE. I, as the Bankruptcy Trustee of MtGox, will continue to make efforts to take necessary measures with respect to collection of receivables due from affiliated companies, etc.”
Plenty of Mt. Gox victims are still hoping to reclaim (some of) their lost funds when the exchange went dark in 2013. Considering how TIBANNE,Co,Ltd. has not paid out anything to this date does not bode well for all parties involved. However, by declaring the parent company of Mt. Gox bankrupt, we might see a surprising outcome after all.