The MtGox civil rehabilitation trustee recently submitted a draft rehabilitation plan for distributing the assets of MtGox. The plan is not final and is currently being reviewed by the Japanese court, following which it will also need to be voted on by all creditors, and after that the practical matters of registering for payouts needs to happen, so this does not mean payouts are imminent or that the trustee is about to dump coins on the market. This always has to be explicitly pointed out as some so-called journalists love spreading FUD about this for clicks. I have followed the MtGox bankruptcy and civil rehabilitation process closely since its beginning, in addition to extensively investigating the MtGox collapse itself. While the rehabilitation plan is meant to be for creditor discussion only, I feel compelled to publicly counter some of the bad takes and outright lies and misinformation being spread on this topic. If you are a MtGox creditor, I’ll lat...

Recently the MtGox civil rehabilitation trustee, Nobuaki Kobayashi, announced a six month delay in proceedings due to disapproved claims still being disputed. The trustee doesn't refer to it directly, but the elephant in the room causing this delay is Peter Vessenes' CoinLab, who after a failed partnership attempt with MtGox in 2012/2013 is now demanding an outrageous $16B USD from the MtGox civil rehabilitation estate. There have been various theories floating around how CoinLab could possibly be justifying this number, with little insight into their actual arguments, a problem not helped by CoinLab's attempts to seal official Japanese creditor records in order to conceal their actions. Recently though I acquired a copy of the last round of petitions to the Tokyo District Court, and have spent the last week dredging through the legal Japanese to get to the bottom of the situation.