Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina)Editor's Note: This article comes from

Cointelegraph Chinese (ID: CointelegraphChina)

, Author: MARIE HUILLET , reproduced by Odaily with authorization.

Update on payment process progress, Mt. Gox creditors to meet tomorrow

On March 24, the bankruptcy trustee of Mt. Gox issued an official statement on the now-shuttered exchange website, informing creditors of a new portal through which they will be able to access all documents distributed at the meeting.

According to previous reports, the Mt.Gox website was hacked in 2011, and then filed for bankruptcy in early 2014, losing about 850,000 BTC (worth about $460 million at the time), and it is believed that about 24,000 creditors were affected.

The settlement of the exchange's creditors is being handled by Tokyo lawyer Nobuaki Kobayashi. A Japanese court appointed him civil rehabilitation trustee to manage the Mt. Gox bankruptcy assets.

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six years and beyond

The aforementioned announcement lacked details on what was discussed at today's meeting. The meeting is the fourth meeting of creditors held by the exchange so far.

Six years after the exchange’s collapse, the lengthy payment process continues, prompting creditors and other community members to organize themselves in an effort to expedite repayments, and such coordinated legal action has successfully secured Mt. In June 2009, it transitioned from bankruptcy proceedings to civil rehabilitation proceedings.

Civil rehabilitation should ensure that creditors pay their debts in cryptocurrency, rather than in fiat currency (the equivalent value of bitcoin assets held by the exchange at the time of bankruptcy).

The lengthy process has prompted repeated attempts by some investors to buy out creditors' claims — such as its private equity and hedge fund manager Fortress Investment Group, which last month raised its bid to 88% of the value of the estimated loss.