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Mt. Gox Files for Chapter 15 US Bankruptcy Protection
Coin Desk ^ | 10 March 2014 | Pete Rizzo

Posted on 03/10/2014 1:29:55 PM PDT by Errant

Troubled Japan-based bitcoin exchange Mt. Gox has filed for Chapter 15 bankruptcy protection, an ancillary form of bankruptcy that will complement its primary Tokyo District Court claim issued on 28th February.

US Chapter 15 bankruptcy provides specific protections in cases of cross-border insolvency, and is based on UN model law. Both Japan and the US have adopted Chapter 15 bankruptcy in an effort to better protect the interests of shareholders and maximize the value of debtor assets in cross-border bankruptcies.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Chit/Chat; Computers/Internet; Society
KEYWORDS: bank; bitcoin; currency; gox
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1 posted on 03/10/2014 1:29:55 PM PDT by Errant
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To: Lurkina.n.Learnin; nascarnation; TsonicTsunami08; SgtHooper; Ghost of SVR4; Lee N. Field; DTA; ...

Click to be Added / Removed.
2 posted on 03/10/2014 1:30:38 PM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

Mt Gox turned out to be an empty box.

3 posted on 03/10/2014 2:08:51 PM PDT by Fido969 (What's sad is most)
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To: Fido969

Good riddance too.

They were tough to deal with when they were not bankrupt.

4 posted on 03/10/2014 2:14:31 PM PDT by Vermont Lt (If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
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