> Japanese bankruptcy law has a particularly nasty outcome here, and I want to address this up front. As creditors claims were registered, those claims were registered in the valuation of Japanese Yen on the bankruptcy date. That's the only way Japanese bankruptcy law can work (most bankruptcy laws around the world operate this way for that matter). This means that the claims can be paid back in full, and there will still be over 160,000 bitcoin and bitcoin cash in assets in the Gox estate. The way bankruptcy law works is that if there are any assets remaining after the creditors have been paid in full, then those assets are distributed to shareholders as part of the liquidation.<p>> That's the only way any bankruptcy law can reasonably work. And yet, in this case, it produces an egregiously distasteful outcome in that the shareholders of MtGox would walk away with the value of over 160,000 bitcoin as a result of what happened.<p>Hilarity ensues.
I don't really understand his sentiment. It's not like he's stealing a billion dollars from charity. The people who lost out will get their money. They were speculators at the end of the day, and I don't really have much sympathy for them with regard to their loses of 10x gains.<p>I guess he might still be facing jail time or threats from the the community, so he has to put on some type of sympathetic face.
Interesting that he makes an AMA appearance, roughly a month after the BBC File on 4 (top quality investigatory journalism) piece: <a href="https://www.bbc.co.uk/programmes/b09tdyjz" rel="nofollow">https://www.bbc.co.uk/programmes/b09tdyjz</a>