Mt Gox creditors petition to get full reimbursement

Mt Gox creditors plead with the Tokyo court to change case from bankruptcy to civil rehabilitation
14 December 2017   659

The case of Mt Gox bankruptcy has been dragged for four years and now it receives a new spin, which will probably allow the creditors to get their money in full.

A petition was filed with Tokyo court that asks Japanese bankruptcy officials to move the case to different type of legal action – civil rehabilitation. If the motion passes, then creditors will receive their money in full, which isn't possible with the current state and type of case.

A little recap is in order. The Mt Gox trading platform was declared bankrupt after losing over 800,000 BTC. The creditors sued the company and the legal proceeding are still underway, with a little twist of Mt Gox's CEO Mark Karpelès being under investigation for embezzlement. And the current case of bankruptcy calls for liquidation sale of company's assets to refund the creditors. The trustee appointed by the court to the Mt Gox right now has control of leftover funds of 200,000 BTC, uncovered during the investigation.

The only downside being the sum of return - $450 per BTC, according to the exchange rate on the time of case being taken to the court.

And it means that not only the creditors will receive only fraction of their money, but also Mt Gox shareholders and CEO will get over $2Bn in the end, after losing all of the clients' money. But the court and the trustee consider moving the case to civil rehabilitation format, because the current trading platform's assets possibly far outweigh the current liabilities.

The petition by the claimants that also supports this assumption was filed by the newly-founded creditor group directed by Kolin Burges, owner of Mtgoxprotest.com website, who explained multiple times in the past, that he's not satisfied with the direction the bankruptcy case was going.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   408

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.