MtGox gets ¥30 million payment as part of Payward support agreement

By Caroline Salls

Pittsburgh, Nov. 26 – MtGox Co., Ltd. said Payward Japan K.K has been selected as the supporting company for its bankruptcy proceedings, with Payward providing ¥30 million to MtGox.

Payward operates the Kraken bitcoin exchange.

In addition to the payment for the transfer of servers and computers, Payward will assist in the investigation of bitcoins said to have disappeared, assist in the filing of claims and assist in the bankruptcy distribution.

According to a news release, Payward will not succeed MtGox’s operation, but will support the bankruptcy proceedings and purchase part of its assets as the supporting company.

MtGox said the Tokyo District Court approved the support agreement on Nov. 25.

The deadline for filing proofs of claim against MtGox is May 29, 2015.

MtGox is a Tokyo-based online bitcoin exchange operator. The company filed Chapter 15 bankruptcy on March 9, 2014 under case number 14-31229.

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