On February 28, 2014, MtGox Co., Ltd. (the “Company”) filed an application for commencement of civil rehabilitation proceedings (minji saisei) at the Tokyo District Court, and the Court issued an order under which the Company is prohibited from making certain payments, establishing security over its assets, and disposing of its assets, etc., (an “Order for Prohibition of Payments and Asset Dispositions, etc.”); an order for comprehensive prohibition; and a supervisory order and examination order by which I was appointed the supervisor and the examiner.
Today, in circumstances in which it would be difficult for the Company to carry out the civil rehabilitation proceedings, 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, and at the same time, issued an order for provisional administration by which I was appointed the provisional administrator. In addition, an Order for Prohibition of Payments and Asset Dispositions and an order for comprehensive prohibition, the details of which are the same as the ones issued on February 28, 2014, have also been issued.
Pursuant to these orders, I, as the provisional administrator, will administer the assets of the Company under the supervision of the Tokyo District Court. I will strive to fairly and equitably administer the Company’s assets, both domestically and internationally, by attempting to utilize certain foreign procedures, including a Chapter 15 filing in the United States of America.
The future outlook is that, although it is subject to the decision by the Tokyo District Court, it is expected that the commencement of bankruptcy proceedings will be ordered.
As it is expected that there will likely be inquiries from interested parties, an appendix has been prepared, in which answers to frequently asked questions are provided.
In addition, the call center, which was formerly set up by the Company, can be contacted at the telephone number below. However, please note that, at this stage, responses will not be given beyond the scope of the details described in the appendix.
Telephone Number: +81-3-4588-3922
Working Hours: Monday to Friday 10 a.m. to 5 p.m. (Japan time)
*All inquiries should be made through the telephone number above, and please refrain from making inquiries to the office of the provisional administrator, whether directly or by email.
Interested parties will be informed of any relevant information, where necessary, through the appropriate channels, including the Company’s website (https://www.mtgox.com/).
While I appreciate that you may be inconvenienced by these proceedings, in view of the special circumstances of this matter and the fluid situation, we ask for your kind understanding and cooperation.
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