An anonymous reader writes "The Japanese edition of The Wall Streeet Journal reports that Mt. Gox has filed for liquidation under Japanese bankruptcy law (link to article in Japanese, U.S. version may be paywalled). The article cites a 'related party' as saying that Mt. Gox was unable to work out how to deal with creditors spread out all over the globe, nor design a realistic rebuilding plan. The article adds a comment from the company lawyer: Mark Karpeles will not be attending the bankruptcy court hearing in the United States scheduled for April 17th."
The announcement from Mt. Gox's lawyer