MIAMI, Jan. 22, 2019 /PRNewswire/ -- A group of Mt. Gox creditors, united behind the banner of 'United We Rise,' announced their nascent effort to form a creditors' steering committee intended to find consensus among creditors. The submission and ultimate adoption of a single rehabilitation plan maximizes the speed, certainty, and size of creditor recovery.
Acknowledging that the Mt. Gox trustee had done a laudable job of managing an unwieldy estate, the group suggested that the inherent limitations on the trustee's discretionary powers as a fiduciary, prevented him from maximizing creditor returns going forward. GoxRising aspires to a singular, unified Civil Rehabilitation Plan that stands to maximize creditor recovery through quick payout of the estate's current $1.2 billion in assets. This includes an ongoing effort to recover and distribute the missing bitcoin.
"The GoxRising movement aims to restore the creditors' losses as well as the world's faith in the cryptocurrency industry," stated Brock Pierce during his talk at BTC Miami, GoxRising's first industry public appearance reaching both affected creditors and media. Pierce's involvement was at the behest of creditors as a supporter of the creditor community and a voice for the industry.
About the CR Plan
The following are some of the germane points of the plan supported by the creditors of GoxRising:
- The implementation should focus on a high degree of certainty
- No distribution of the current assets will be made to shareholders
- Claims for return of bitcoins will be repaid in bitcoin and bitcoin cash
The call to action is for all creditors to visit GoxRising.com to join our creditors' committee for the singular Rehabilitation Plan before February 14th. Time is of the essence to turn what was once an unprecedented industry scandal into a resurgence and rehabilitation for the creditors and the community as a whole.
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