Earlier this month, we reported that a group of investors were interested in acquiring the bankrupt Mt. Gox bitcoin exchange platform for one bitcoin ($501). The initiative would have the website overhauled and revived and proceeds of transactions would be allocated to both users and creditors.
Now comes word from one investor that says creditors are content with the arrangement.
The Wall Street Journal is reporting that John Betts from Sunlot Holdings, an investor associated with the deal, stated that creditors who owned 70 percent of the bitcoins stored on the website were in favor of the resuscitation plan, which still needs to be approved by a Tokyo district bankruptcy court.
“This is about bitcoin and preserving the value of the bitcoin ecosystem. This is our collective opportunity to demonstrate the commitment of [the bitcoin] community, that we don’t need government bailouts and that the community is self-healing,” said Betts in a statement published on SaveGox.com. “We are prepared to invest heavily in this business once we have conducted a full accounting of MtGox’s assets and legal liabilities.”
It was also reported that Brock Pierce, Matthew Roszak and William Quigley, three investors part of Sunlot holdings, have concurred to buy a 12 percent stake in the company from Jed McCaleb, the individual who founded Mt. Gox and later sold it to Mark Karpeles three years ago.
Mt. Gox is en route to liquidation following a bankruptcy protection application rejection by a Tokyo court. This means the troubled digital currency exchange will not have the ability to revamp operations. In the meantime, an administrator will attempt to sell off the company’s assets, but it’s rather unlikely that any creditors will get their money back.
Reuters published an article Monday citing online transcriptions that said Karpeles tried to attain both control and escape of Mt. Gox in Jun. 2011 when customers asked for proof that the exchange was still solvent following a hacking attack.
