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US judge demands Mt. Gox CEO to appear in Dallas court hearing

updated 09:33 am EDT, Wed April 2, 2014

Questioning limited to Chapter 15 bankruptcy-relevant information only

US Bankruptcy Judge Stacey Jernigan has ordered shuttered Bitcoin exchange Mt. Gox's CEO Mark Karpeles to present himself in Texas, at his lawyer's office. The judge demanded that if Karpeles "avails himself of this court, my God, he is going to get himself over here" to answer allegations of theft and other improprieties before the company recieves Chapter 15 bankruptcy protection in the US.

Under Chapter 15, a representative of a corporate bankruptcy proceeding outside the US can obtain access to the United States courts. It allows cooperation between the United States courts and the foreign courts, as well as other authorities of foreign countries involved in cross-border insolvency cases. The filing allows US courts to issue subpoenas, orders to turn over assets, the issuance of stays on pending actions, and orders of other types as circumstances dictate.

Mt. Gox attorney John Mitchell claims that the the company may replace Karpeles as the representative of Mt. Gox for US court purposes, but the judge didn't seem pleased with that suggestion. She did, however, limit the deposition questioning of Karpeles to issues pertaining to the bankruptcy hearing itself, and not any potential criminal proceedings.

by MacNN Staff



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