Re: Reason why MtGox can go to 0 - without arbirage opportunity with Bitstamp

Once prices started diverging, smart traders would "rather be in fiat, in case of insolvency".

This just isn't true. If insolvent, then the money is gone. Gone.

rephrase: in case of court ordered liquidation.

Interesting ... under which court? even better ... under which legislation?

Japanese bankruptcy courts?

Very unlikely, Japan has no specific legislation regarding cryptos. So legally there's notthing that can be done.