Business

Court rejects bankruptcy protection for Mt. Gox

By Yuri Kageyama
Published April 16, 2014 1:45pm ET
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Court rejects bankruptcy protection for Mt. Gox
FILE - This April 3, 2013 file photo shows bitcoin tokens in Sandy, Utah. The Mt. Gox bitcoin exchange in Tokyo is headed for liquidation after a court rejected its bankruptcy protection application. Mt. Gox said Wednesday, April 16, 2014, the Tokyo District Court decided the company, which was a trading platform and storehouse for the bitcoin virtual currency, would not be able to resurrect itself under a business rehabilitation process filed for in February. | Rick Bowmer/Associated Press

TOKYO (AP) — The Mt. Gox bitcoin exchange in Tokyo is headed for liquidation after a court rejected its bankruptcy protection application.

Mt. Gox said Wednesday the Tokyo District Court decided the company, which was a trading platform and storehouse for the bitcoin virtual currency, would not be able to resurrect itself under a business rehabilitation process filed for in February.

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