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Breaking: Foretress Group Set to Make Early Payout to Mt. Gox Creditor’s Claims

Fortress Investment Group has reportedly agreed to payout creditor claims of defunct Bitcoin Exchange Mt.Gox after years of court proceedings. The said bailout would be less than what these creditors can claim under a trustee-backed proposal set for a vote in October. However, due to continued delays and backouts by trustees, creditors are left with not much of an option.
The rehabilitation plan for creditors is set for an October vote and once passed the Fortress investment group would offer creditors 90% of their claims which could take another 2 years time. However, the current bail-out would see creditors receive 80% of their claims.

Creditors would get the full amount owed them in cash, Bitcoin or Bitcoin Cash https://t.co/OcF6q7v20A
— Bloomberg Crypto (@crypto) March 19, 2021

The post Breaking: Foretress Group Set to Make Early Payout to Mt. Gox Creditor’s Claims appeared first on Coingape.
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