Bankruptcy doesn't mean "I have no money at all
", it means "my obligations exceed my assets". Let's say you lend me $1000 and I only have $700. I file for bankruptcy, and you get the $700. I didn't have no
money to give you, I just didn't have enough to meet my obligation to repay your $1000.
What the Canadians are doing is calling in the obligation Mt Gox owes them in the most aggressive manner possible, probably hoping to grab their pile of Gox's cash before it's other creditors and also to get Karpeles' personal
assets as well, rather than just Gox's company assets. I doubt they expect full
restitution, and, to me, this looks a bit like throwing good money after bad, but
they might just manage to get a few cents on the dollar, which, if it exceeds their legal costs, is at least something
, even if it doesn't cover their loss.