The Ontario Superior Court has partially certified a class action lawsuit against Mt. Gox, which would operate on behalf of everyone in Canada who lost funds during the former exchange’s collapse.
The lawsuit, however, hinges upon Japan’s ruling on Mt. Gox’s bankruptcy proceedings and the implementation of their rehabilitation plan.
Under that plan, Mt. Gox would be restored to functionality and its debtors would receive a share of the 200,000 BTC Mt. Gox found in an “old format” wallet. They would also receive partial ownership of the revived Mt. Gox.
Ted Charney of Charney Law Firm, which is representing the class members, told CBC that “the partial certification of this class action is a positive step forward in eventually returning lost currency and bitcoins to the class members.”
Mt. Gox Again?
The Mt. Gox story continues to unfold at a snail’s pace. Having collapsed at the beginning of this year, those who lost funds in the exchange have yet to receive compensation, or even any answers on what actually happened.
Meanwhile, CEO Mark Karpeles has gone from board member of the Bitcoin Foundation to one of the most hated people in the Bitcoin world.
The CoinFront will continue to report on the Mt. Gox saga as it unfolds.
Class Action Lawsuit Against Mt. Gox Partially Certified
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