Are you seriously suggesting that the Gox bank account had 270eur but didn't have 960eur at any one point in time?
More or less ...
They (mtgox) may have implemented a "queue system" on their side so that every day :
- they check the balance of the account (last day balance = 0 ; new balance = sum of incoming transfers of the day)
- they pick as many "waiting wires" from their queue system as they can, starting with the smaller and older ones, up to the point where they can no longer pay
- they send the money, the new balance is 0 again ...
"Sorry it's not our fault guys, the bank refuses to send more money than we have"
this... is exactly what happens when a company dives into insolvency, and yes, a perfectly feasible explanation.