Former Bitcoin Exchange Mt. Gox To Be Liquidated

Former bitcoin exchange Mt. Gox is officially dead, now that the Tokyo District court has denied its appeal for rehabilitation and appointed the lawyer Nobuaki Kobayashi as a provisional administrator to start the process of unwinding the failed company, reports Ritsuko Ando at Reuters.

“The Tokyo District Court recognized that it would be difficult for the company to carry out the civil rehabilitation proceedings and dismissed the application for the commencement of the civil rehabilitation proceedings,” said Kobayashi.

Kobayashi will manage Mt. Gox’s assets until a permanent bankruptcy trustee is named by the courts. Leading...