MtGox Chapter 15 Case Brings Japanese Insolvency Proceeding and Bitcoin Drama to Dallas Bankruptcy Court

Bankruptcy sometimes provides a window into unfamiliar worlds. The recent chapter 15 filing by MtGox Co., Ltd. contains an interesting explanation of the bitcoin phenomenon as well as Japanese involvency proceedures. In re MtGox Co., Ltd ., No. 14-31229 (Bankr. N.D. Tx.). Here are a few nuggets that...

Bitcoins in Bankruptcy: Trouble Ahead for Investors and Bankruptcy Professionals?

It is hard to ignore the media attention surrounding Bitcoin these days. Within the last few months, the virtual currency has surged to new highs, was the focus of a Congressional hearing, and was the subject of comments by former Federal Reserve Chairman Ben Bernanke, who stated that it and other such...

Bankruptcy Judge: Bitcoin CEO Must Come to the United States to Be Deposed

DALLAS — (Mealey’s) The federal bankruptcy judge presiding over the Chapter 11 case of bitcoin exchange operator MtGox Co. Ltd. today ordered the company’s CEO to fly to the United States from Japan to be deposed, a source told the LexisNexis Bankruptcy Report ( In Re: MtGox Co. Ltd...