Israeli restructuring proceedings for Believer Meats were formally recognized by a bankruptcy court in North Carolina, where a subsidiary of the lab-grown meat company is being liquidated by a state court receiver, Bloomberg Law reported. Judge Pamela W. McAfee of the U.S. Bankruptcy Court for the Eastern District of North Carolina on May 21 granted chapter 15 bankruptcy recognition for the producer of meat grown from animal cells based on an understanding that a Wilson, N.C. factory and related assets under the control of an appointed receiver aren’t subject to the proceedings in Israel.

Syria’s uprising-turned-civil war from 2011 until late 2024 battered the country, and plunged more than 90% of its population of around 26 million into poverty. Rebuilding it will cost hundreds of billions of dollars, according to U.N. figures, the Associated Press reported. The war killed 500,000 people, wounded more than 1 million and displaced more than half Syria's prewar population of 23 million.

LIV Golf has begun laying the groundwork for a potential U.S. bankruptcy filing if it fails to raise new funds, Bloomberg News reported. The golf league is currently looking for money after its main backer, the Saudi Public Investment Fund, pulled its funding. While LIV’s management and advisers are looking for options, including trying to find investors, they are preparing for the league’s collapse when the season ends in late August as a possible outcome.

The veteran high-tech company Scailium (formerly SQream) has accumulated debts of over 13.6 million shekels ($4.69 million) and on Monday filed an application with the Tel Aviv District Court requesting an order to open proceedings to examine the possibility of economic rehabilitation, along with the appointment of a temporary trustee, Calcalistech.com reported.

A judge at the Tel Aviv District Court has granted a request by AnyClip to freeze legal proceedings against the company and signaled support for the appointment of a temporary trustee, CalcalisTech.com reported. The court instructed the Insolvency Commissioner to submit, within three days, a list of candidates for the role, individuals with proven experience in selling the assets and operations of technology companies, and the ability to work with creditors and potential buyers globally.

China's financial regulator advised the country’s largest lenders to temporarily suspend new loans to five refineries recently sanctioned by the US over their ties to Iranian oil, Bloomberg News reported. The National Financial Regulatory Administration (NFRA) asked banks to review their exposure and business dealings with firms, including Hengli Petrochemical (Dalian) Refinery, one of China’s largest private refiners, while awaiting further guidance. For now, banks have been guided not to extend new yuan-denominated credit, though they have also been told not to call in existing loans.

The ​Iran war has seen major central banks put interest rates on hold in April and stymied ‌an easing push in emerging economies as policymakers face inflation pressures and volatile markets, Reuters reported. Six of the central banks overseeing the 10 most heavily traded currencies left rates unchanged last month: the U.S. Federal Reserve, the European Central Bank and the Bank of England, but also Canada, New Zealand and Japan. Central banks in ​Switzerland, Australia, Sweden and Norway held no rate-setting meetings.

Shipping companies said on Monday that President Trump’s offer to provide them safe passage through the Strait of Hormuz fell short of the sort of arrangements that would persuade them to make the trip, the New York Times reported. Mr. Trump said on Sunday that the United States would “guide” commercial vessels through the strait, which Iran has effectively closed since the war in the Persian Gulf started two months ago. But the president provided few details on how the program, Project Freedom, would work.

The United Arab Emirates is discussing a currency swap line with the United States, its ‌trade minister said on Monday, Reuters reported. "We have this discussion and conversation ‌with many, it's part of an elite group that the U.S. is having this swap policy ​with. They are only having it with five countries," Thani Al Zeyoudi said at a conference in Abu Dhabi. "Being part of that group means that transactions... trade, investments between both nations reach a level where that swap is highly ‌needed ... so it is ⁠an elite matter, (it) is not about bailing out," he said.