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by pegasuscollins 3135 days ago
So what happens when Karpeles needs to sell all of those bitcoins to make the creditors whole in yen? And also: when will this happen?
1 comments

If a creditor can be found who is willing to assign some value to the asset and then provide a loan secured by said asset then at least in the short term it is not a problem. I believe this is fairly common and is not likely to be difficult to find. Of course any such deal would likely include a detailed plan for the sale of at least as much of the asset as would be needed to repay the loan.
At the time "early" in the proceedings, there was an attempt[1] to go through what is called Civil Rehabilitation[2] under Japanese restructuring and insolvency law, but this was denied by the Tokyo District Court handling the MtGox bankruptcy.

Fast forward now several years, perhaps this is another option on the table for another creditor willing to try again.

[1] http://www.reuters.com/article/us-bitcoin-mtgox/mt-gox-set-t...

[2] https://content.next.westlaw.com/Document/I2030ee371cb611e38...