MtGox one step closer to payout
MtGox creditors received the following note on Friday, instructing them to register with full KYC details on the MtGox claims filing system by January 10, 2023, which will then clear the way for the trustee actually paying out claims.
1. Launch of Function for Selection and Registration
Regarding repayment under the Rehabilitation Plan (“Repayment”), the Rehabilitation Trustee has launched a function for rehabilitation creditors to select a repayment method and to register payee information (“Selection and Registration”) on the MTGOX Online Rehabilitation Claim Filing System (i.e., the system accessible via https://claims.mtgox.com/; “System”).
The deadline for Selection and Registration is January 10, 2023 (Japan time); any rehabilitation creditor who wishes to receive Repayment must complete Selection and Registration on the System by such deadline.
The following explanatory materials regarding Repayment have been uploaded to the System. All these materials contain important matters concerning Repayment. Therefore, all rehabilitation creditors should read them carefully before carrying out Selection and Registration. Please note that the following documents are accessible only by rehabilitation creditors. Please refrain from providing, disclosing or leaking such documents to third parties.
- Notice Concerning Amendment of Rehabilitation Plan and Acquisition of Permission Regarding Repayments
- Information on Financial Situation of Rehabilitation Debtor
- Income and Expenditure Statement, Balance Sheet, List of Assets (as of August 31, 2022)
- Guide to Repayment by Bank Remittance (for Rehabilitation Creditors who Reside Outside of Japan)
- Guide to Repayment by Bank Remittance (for Rehabilitation Creditors who Reside in Japan)
- Guide to Repayment by Remittance through a Fund Transfer Service Provider
- Guide to Selection of Cryptocurrency Exchange or Custodian
2. Overview of Selection and Registration Procedures
(1) Initial registration on the System
To ensure safe and secure Repayment, rehabilitation creditors must log in to the System to carry out Selection and Registration themselves. If you currently cannot log in to the System, you will need to complete initial registration on the System. Therefore, please review the information below and promptly complete initial registration on the System. If you complete initial registration but still cannot log in to the System because you have forgotten your password or for other reasons, please re-register by carrying out the same procedures as those for initial registration. https://www.mtgox.com/img/pdf/20211006_000_announcement_en.pdf
If you cannot log in to the System, you will not be able to carry out Selection and Registration. If you do not complete the necessary Selection and Registration, you will not be able to receive any of the Repayments below, and you will need to bring the required documents to the MTGOX Co., Ltd. head office or other place designated by the Rehabilitation Trustee and receive Repayment in Japanese yen (cash) (if you are unable to receive such Repayment, the Repayment amount will be deposited with the Legal Affairs Bureau).
- Early Lump-Sum Repayment
- Repayment for a Portion of Cryptocurrency Rehabilitation Claims in Cryptocurrency
- Repayment by Bank Remittance
- Repayment by Remittance through a Fund Transfer Service Provider
Please note that even if you have completed initial registration, in case you have not carried out Selection and Registration on the System by January 10, 2023 (Japan time), you will not be able to receive any of the above Repayments. Therefore, after you complete initial registration, make sure that you carry out Selection and Registration on the System.
(2) Identity Verification
After logging in to the System, and prior to Selection and Registration, you must perform identity verification using services provided by Onfido PTE Ltd. Please click on the “PERFORM IDENTITY VERIFICATION” button on theSystem and follow the onscreen instructions and other explanatory materials to complete identity verification.
The result of the identity verification will be sent to your contact email address. If the result of your identity verification was “Success,” you may proceed to the procedures detailed in (3) below. If the result of your identity verification was “Fail,” you will need to redo the identity verification procedures. It may take some time between your request for identity verification and notification of your result.
Please note that your identity verification documents, your selfie data, and the details of your identify verification materials will be obtained and managed by the Rehabilitation Trustee, provided to third parties in and outside of Japan, and otherwise used to the extent necessary to conduct the Civil Rehabilitation Proceedings including Repayment.
(3) Selection of Method of Proportional Repayment and Selection of Repayment Method of Cryptocurrency Rehabilitation Claims
Once you click on the “SELECT REPAYMENT METHOD AND REGISTER PAYEEINFORMATION” button on the System, the Terms of Consent regarding Repayment will be displayed; please read the Terms of Consent carefully and then click on the “AGREE” button. If you do not agree to the Terms of Consent, you will not be able to carry out Selection and Registration.
After agreeing to the Terms of Consent, please carry out the selection regarding (i) and (ii) below (rehabilitation creditors who will be paid in full by the Base Repayment cannot carry out the selection regarding (i), and rehabilitation creditors who do not hold cryptocurrency rehabilitation claims cannot carry out the selection regarding (ii)). In all cases, make sure to carefully read the on-screen explanations on the System and other related materials before making your selection. Please note that you can change your selection up to the end of January 10, 2023 (Japan time), the deadline for Selection and Registration.
(i) Selection concerning proportional repayment
As a proportional repayments for claims remaining after the Base Repayment Amount are deducted, you will be asked to select between (a) Intermediate Repayments and Final Repayment and (b) Early Lump-Sum Repayment.
(ii) Selection of repayment method for cryptocurrency rehabilitation claims
If you have cryptocurrency rehabilitation claims, you may select to receive cryptocurrency allocated to cryptocurrency rehabilitation claims (a) in cryptocurrency or (b) in the fiat currency obtained by the Rehabilitation Trustee through the sale of cryptocurrency.
Registration of Payee Information
After completing the procedures in (3) above, you can register your Repayment payee information. Click on the applicable button below on the System, and after carefully reading the on-screen explanations on the System and explanations in other related materials, register your payee information.
- “REGISTER RECEIPT BANK ACCOUNT INFORMATION FOR A BANK REMITTANCE” button
- “REGISTER INFORMATION FOR REMITTANCE BY A FUND TRANSFER SERVICE PROVIDER” button
3. Amendment of Rehabilitation Plan and Permission regarding Repayment
(1) Amendment of Rehabilitation Plan
To ensure that rehabilitation creditors can receive Repayment smoothly, fairly and safely, the Rehabilitation Trustee petitioned for amendments to certain provisions of the Rehabilitation Plan, and the Tokyo District Court made an order to grant these amendments on September 29, 2022. The order will become final and binding after the period specified in the Civil Rehabilitation Act passes. These amendments include those that clarify matters that were not explicitly stated in the previous version of the Rehabilitation Plan. Rehabilitation creditors can view the Draft Amended Amended Rehabilitation Plan is accessible only by rehabilitation creditors. Please refrain from providing, disclosing or Rehabilitation Plan which reflects such amendments in the System or the URL below. Please note that the Draft leaking it to third parties. Please also note that the disclosure of the Draft Amended Rehabilitation Plan at the following URL may be terminated without prior notice. https://www.mtgox.com/d/04y7ivbnz5gw.pdf
In addition, please also refer to the “Notice Concerning Amendment of Rehabilitation Plan and Acquisition of Permission Regarding Repayments” which is disclosed in the System and provides the contents and reasons of the amendments.
(2) Permission regarding Repayment
There are matters that the Rehabilitation Trustee is required to decide with the permission of the Tokyo District Court in order to implement Repayment. The Rehabilitation Trustee has, with the permission of the Court, decided these matters, which can be reviewed in “Notice Concerning Amendment of Rehabilitation Plan and Acquisition of Permission Regarding Repayments” which is accessible on the System. Among such matters are the deadline for Selection and Registration and Repayment deadlines, which are also indicated below. Please note that, depending on the future circumstances, the following deadlines are subject to change with the permission of the Tokyo District Court.
(i) Base Repayment Deadline: July 31, 2023 (Japan time)
(ii) Intermediate Repayment Deadline: July 31, 2023 (Japan time)
(iii) Early Lump-Sum Repayment Reference Date: January 10, 2023 (Japan time)
(iv) Cryptocurrency Repayment Reference Date: January 10, 2023 (Japan time)
4. Inquiries
For any questions regarding Repayment, please log in to the System and use the inquiry form accessible from the “FREQUENTLY ASKED QUESTIONS (FAQ)” button in the upper right corner of the screen.
The inquiry also can be made using the inquiry form accessible from the URL below without logging to the System. However, if the inquiry is made in such manner, the identity of the inquirer and the creditor may not be verified, which may make it difficult to respond to inquiries smoothly. Accordingly, please make the inquiry after logging in to the System, if possible. https://claims.mtgox.com/faq
Please note that, due to a large number of inquiries, we may not be able to respond in a timely manner. We appreciate your understanding.
This email was sent from a send-only email address, and we cannot read or respond to any reply you may send.
Rehabilitation Debtor: MTGOX Co., Ltd.
Rehabilitation Trustee: Nobuaki Kobayashi
End
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