Tibanne, Parent of Bitcoin Company MtGox Granted Recognition of Its Japanese Proceeding

On April 2, 2015, the United States Bankruptcy Court for the Southern District of New York granted foreign main recognition under Chapter 15 of the Bankruptcy Code of the Tibanne Co., Ltd bankruptcy proceeding pending in Tokyo, Japan.  RCT represented Taro Awataguchi, the Trustee of Tibanne in his effort to obtain recognition. Tibanne is the parent company of MtGox, a company that reportedly lost over 750,000 customer bitcoins worth in excess of $400 million.

Prior results do not guarantee a similar outcome.