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Mt Gox Creditors Win Prelimnary OK on Revival Plan

May 8 (Bloomberg) -- Mt. Gox Co. creditors won a U.S. judge’s preliminary approval of a plan to settle with two of the bankrupt bitcoin exchange’s executives.

The creditors propose to partner with outside investors to revive the exchange and compensate depositors. That deal also must be approved by a Japanese bankruptcy court.

The Tokyo-based exchange filed for bankruptcy in February, when it said it couldn’t account for more than 850,000 bitcoins, which were then worth about $500 million. It later said 200,000 had been located.

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To contact the reporter on this story: Andrew Harris in federal court in Chicago at aharris16@bloomberg.net

To contact the editor responsible for this story: Joe Schneider at jschneider5@bloomberg.net

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