I can only let you imagine the catastrophic consequences of an unlicensed exchange being sued to bankruptcy by a state, a bank or some other party.
In this he has a good point. If a troublemaker were to take Tibane to court seriously, injuctions & all, MtGox would not be legally able to repay anything it holds for "customers". Those BTC/whatever would possibly be used to satisfy the claim of the plaintiff, leaving the MtGox average user as an unsecured creditor holding the empty bag.