CoinLab Backs Mt. Gox's Ch. 15 Bid, With Conditions

Law360, New York (June 09, 2014, 7:26 PM ET) -- Bitcoin company CoinLab Inc. has agreed to back the push of MtGox Co. Ltd. for U.S. bankruptcy protection, after reaching a deal with the defunct Japanese bitcoin exchange to protect CoinLab's claims in the case, according to court documents filed Friday.

CoinLab, which sued Mt. Gox in May 2013 for $75 million over a license agreement that the company claims Mt. Gox abandoned, said it would not oppose the exchange’s bid for Chapter 15 recognition, provided that its claims, rights and defenses it has previously asserted...
To view the full article, register now.

Related

Sections

Case Information

Case Title

MtGox Co., Ltd.


Case Number

3:14-bk-31229

Court

Texas Northern

Nature of Suit

Date Filed

March 8, 2014

Law Firms