{"id":38752,"date":"2021-03-11T17:53:08","date_gmt":"2021-03-11T15:53:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38752"},"modified":"2025-08-30T06:14:13","modified_gmt":"2025-08-30T03:14:13","slug":"mt-gox-creditors-urged-to-drop-lawsuit-in-favour-of-recovery-plan","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mt-gox-creditors-urged-to-drop-lawsuit-in-favour-of-recovery-plan\/","title":{"rendered":"Mt. Gox creditors urged to drop lawsuit in favour of recovery plan"},"content":{"rendered":"

Former Mt. Gox chief executive Mark Karpeles opposed the class-certification procedure for a lawsuit brought by one of the platform’s creditors, arguing that the proposed recovery plan is more favorable to the creditor. This was \u0441\u043e\u043e\u0431\u0449\u0430\u0435\u0442<\/a> CoinDesk.<\/p>\n

Karpeles’s lawyers noted that the civil-rehabilitation plan provides for payments in fiat, Bitcoin, and Bitcoin Cash at their current values. Under this scheme, plaintiff Gregory Green would receive 6.33 BTC, 6.33 BCH, and more than 2.4 million yen, equivalent to $347,083. The calculation was performed using a calculator on the creditors’ help blog.<\/p>\n

Green, who accused Karpeles of fraud and negligence, reported about $25,000 in cryptocurrency and cash held in his Mt. Gox accounts at the time of the 2014 hack. The former Mt. Gox chief\u2019s lawyers noted that one yen, which Green will receive under the civil-rehabilitation plan, is currently worth more than $22,000.<\/p>\n

Lawyers concluded that the class action will not be “the best way to resolve” compared with the recovery plan. For it, creditors of the exchange will soon be able to vote and recover losses through the Tokyo District Court.<\/p>\n