Mealey's Bankruptcy - Investors Seek $116M Payment In Bitcoin Bankruptcy; Propose Reorganization Plan

Mealey's Bankruptcy - Investors Seek $116M Payment In Bitcoin Bankruptcy; Propose Reorganization Plan

CHICAGO - The putative class of investors suing bankrupt bitcoin exchange operator MtGox Inc. alleging civil conspiracy on April 28 moved in the U.S. District Court for the Northern District of Illinois for approval of a settlement in which the company would immediately distribute to members of the exchange $116 million and would establish a new exchange in which members of the old exchange would receive a 16.5 percent interest (Gregory Greene v. MtGox, et al., No. 14-01437, N.D. Ill.).

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