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Bitcoin exchange MtGox placed in administration by Japan court: CEO

TOKYO--Failed Bitcoin exchange MtGox was placed in administration by a Japanese court on Wednesday, with an order for bankruptcy expected to be issued soon, its administrator and chief executive said.

“The Tokyo District Court decided today to dismiss the application for commencement of a civil rehabilitation and at the same time, an order for Provisional Administration was issued,” a statement from CEO Mark Karpeles said.

“Attorney-at-law Nobuaki Kobayashi (Supervisor and Examiner under the Civil Rehabilitation Procedure) was appointed Provisional Administrator,” he said.

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