Tibanne, the Japanese corporate parent of beleaguered Bitcoin exchange Mt. Gox, has now filed for Chapter 15 bankruptcy protection in the United States.
In a court filing submitted this week, the company’s American lawyer has asked a federal bankruptcy court in New York to recognize Tibanne’s ongoing bankruptcy proceedings in Japan. If the request is granted by a judge, it would pause current legal action being pursued against Tibanne in the US—including a contract dispute with Coinlab that dates back to 2013—until the bankruptcy in Japan is resolved.
The company, which was founded in 2009 in Tokyo by Mark Karpeles, a French tech entrepreneur, acquired Mt. Gox from its American founder, Jed McCaleb, in 2011. Today, Tibanne is a 88 percent owner in Mt. Gox with McCaleb retaining a 12 percent stake. Karpeles no longer has control of the company—it is in the hands of a Japan court-appointed bankruptcy trustee.
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