In a letter said to be sent by Fortress Managing Director Michael Hourigan on Monday, the company said it was offering creditors with large claims a "premium price tier" on a first-come, first-served basis.
Fortress defended the 12 percent discount it has now offered investors, arguing the price is fair considering the ongoing litigation from CoinLab and Tibanne, who are both suing for significant portions of the Mt. Gox estate. The cases, which are being heard in Japan, will likely rumble on for the next three to five years, the letter reads.
Fortress first made a proposal to creditors last summer when it offered $900 per bitcoin, which it claimed represented a 200 percent markup of the market price of bitcoin when Mt. Gox declared bankruptcy in 2014.
Fortress hasn’t said how much funding it has put aside for this particular offer. Once accepted by Mt. Gox creditors, payments will take three days to process. It also isn't clear if payments can be made in a fiat currency of choice, as with previous offers.
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