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Mt Gox Repayment Window Has Opened, but Repayments ‘Will Take Some Time’

Mt Gox creditors have missed the deadline to provide their repayment information, opening the window for repayments to be made. The Mt Gox Trustee has said that base, intermediate, and early lump-sum repayments can now be paid out until the October 31 deadline. The Trustee will prepare to make the repayments, coordinating with a list of financial institutions, including crypto exchanges, that will receive the payments and distribute them to creditors. However, the Trustee noted that it could take some time before repayments commence. Mt Gox is set to distribute an unknown portion of the $3.9 billion worth of Bitcoin, $17.9 million worth of Bitcoin Cash, and $523 million worth of Japanese yen that it holds. The deadline for repayments could be extended with the permission of the Tokyo District Court.

(By Tim Copeland)

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