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FILE - In this Thursday, Dec. 12, 2013, file photo, Detroit Emergency Manager Kevyn Orr speaks during an interview with The Associated Press in Detroit. The city of Detroit has reached a deal with retired police officers and firefighters that would preserve current pensions but trim annual cost-of-living payments — the first major agreement with retirees in the bankruptcy case, mediators announced Tuesday, April 15, 2014. A spokesman for Orr, who took the city into bankruptcy last summer, didn't immediately respond to a message Tuesday from The Associated Press. (AP Photo/Paul Sancya, File)

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FILE - In this Thursday, Dec. 12, 2013, file photo, Detroit Emergency Manager Kevyn Orr speaks during an interview with The Associated Press in Detroit. The city of Detroit has reached a deal with retired police officers and firefighters that would preserve current pensions but trim annual cost-of-living payments — the first major agreement with retirees in the bankruptcy case, mediators announced Tuesday, April 15, 2014. A spokesman for Orr, who took the city into bankruptcy last summer, didn't immediately respond to a message Tuesday from The Associated Press. (AP Photo/Paul Sancya, File)

Mt. Gox bitcoin exchange in Tokyo headed for bankruptcy, not rehabilitation, on court decision

TOKYO - The Mt. Gox bitcoin exchange in Tokyo is headed for dissolution after a court rejected its bankruptcy protection application.

Mt. Gox said Wednesday the Tokyo District Court decided the company would not be able to resurrect itself under a business rehabilitation process filed for in February.

The exchange's CEO Mark ...

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