December 19th news, according to the foreign media theblock report, the hedge fund Castleress Investment Group (Fortress Investment Group) has sent a new letter to thousands of creditors of MtGox, expressing its willingness to buy them at 70% of the current Bitcoin market price Claims.
It is reported that in July of this year, the investment group also issued an invitation to buy, but at that time the offer was only a poor $ 900 / BTC.
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In 2014, the MtGox exchange declared bankruptcy after losing nearly 900,000 BTC to customers, and last year, a Japanese court changed the state of Mt Gox's case from bankruptcy to civil recovery, which makes the company expected to restructure its business and may cause creditors to recover some assets. According to the latest report available on the Mt Gox website, Mt Gox currently holds approximately 141,868 BTC assets.
In a letter written by Castle Investment Group Managing Director Michael Hourigan, the company proposes to acquire MtGox creditors' bitcoin at the current market price of bitcoin (approximately $ 7,200), which will provide creditors with Guaranteed payment, but 30% of the funds will be deducted (equivalent to a 30% discount).
In addition, Horrigan also mentioned the lawsuits being initiated by two large creditor agencies (Mt Gox's parent company Tibanne and U.S.-based Bitcoin business incubator CoinLab). The letter stated that these lawsuits may delay and dilute creditor claims distribution, The relevant creditors need to make a decision on whether to sell their claims before December 31.
According to a report released by the Tokyo District Court in October, a total of 56 Mt Gox creditors submitted claims assessment applications. In recent months, the Tokyo District Court approved Tibanne's claims for more than 82,000 BTC and 386 million yen (approximately $ 3.5 million) and a claim of 385 million yen (approximately $ 3.5 million) from CoinLab.
For creditors, the new offer seems to have some appeal, but we can't help wondering what exactly led to this action by Castle Hedge Fund?
What is your opinion.