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Banking Law

CoinLab Cuts Deal With Mt. Gox Trustee Over Bitcoin Claims (1)

Jan. 15, 2021, 10:24 PM

Creditors seeking to regain Bitcoin lost on the Japanese exchange Mt. Gox in 2014 have a chance to get their digital assets back before legal claims are settled.

CoinLab Inc. said an agreement with Nobuaki Kobayashi, the trustee to the Mt. Gox bankruptcy, and MGIFLP, a unit of Fortress Investment Group LLC, will allow creditors to consider an offer of as much as 90% of the remaining Bitcoin tied up in the bankruptcy.

The plan must be approved by creditors and investors aren’t obligated to take the early payment and can wait for the lawsuits to settle, CoinLab said...

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