The Tokyo District Court has issued an order of commencement of the bankruptcy proceeding for MtGox parent company Tibanne. The request for bankruptcy proceedings were made by MtGox creditor Nobuaki Kobayashi late last month. Notification of the proceedings were published on the MtGox website earlier today and a text version is provided below.

Announcement of Application for Commencement of Bankruptcy Proceeding for TIBANNE Co., Ltd. and Order of Commencement of Bankruptcy Proceedings
February 2, 2015

To whom it may concern,
Bankrupt Entity: MtGox Co., Ltd.
Bankruptcy Trustee:
Nobuaki Kobayashi, Attorney-at-law

While I have continually and strongly claimed against TIBANNE Co., Ltd. (“TIBANNE”), which is the parent company of MtGox Co., Ltd. (“MtGox”), for repayment of the loan receivables that MtGox has against TIBANNE, repayment from TIBANNE has not yet been made. Accordingly, on January 29, 2015, I applied for commencement of the bankruptcy proceeding for TIBANNE, as a creditor thereof, with permission from the Tokyo District Court. In response, on January 30, 2015, the Tokyo District Court issued an order of commencement of the bankruptcy proceeding for TIBANNE.

I, as the Bankruptcy Trustee of MtGox, will continue to make efforts to take necessary measures with respect to collection of receivables due from affiliated companies, etc.

End