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Mt. Gox has filed for liquidation in Japan, says report

Tim Hornyak | April 17, 2014
A long, convoluted road lies ahead for what was once the world's largest exchange for Bitcoin.

But if the Tokyo court orders the liquidation of Mt. Gox, under Japanese law Karpeles would have to remain in Japan until the proceedings are complete, according to Nagai.

Karpeles might remain CEO of the company but would lose control of its management in a liquidation since the trustee would be in charge, he added.

The Wall Street Journal also cited an unnamed person as saying lawyers for Mt. Gox were concerned that Karpeles could be arrested in connection with fraud allegations, or as part of an investigation into online market place Silk Road, if he goes to the U.S.

 

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