October 2, 2018 / 9:42 PM / a year ago

Mizuho, Mt. Gox customers ask court to halt California lawsuit

Japan’s Mizuho Bank and U.S. investors suing it over losses at the Mt. Gox bitcoin exchange on Monday asked a federal court in Los Angeles to stay the case, saying plaintiffs may be able to recover their losses in Mt. Gox’s bankruptcy proceedings.

In a joint report to the court, lawyers for both sides said the estate in Japan for the defunct Mt. Gox now has more than $617 million after selling bitcoins and may have enough to pay in full the claims of Mt. Gox customers who lost money when the exchange collapsed in 2014.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2OuljLq

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