The Court of Arbitration of the International Chamber of Commerce (ICC) has ruled in favour of one of the most important creditors in the Signa bankruptcy case, the Luxembourg Times reported. The ICC awarded sovereign wealth fund Mubadala from the United Arab Emirates around €700 million for breach of financing agreements, according to the creditor protection association Creditreform. The arbitration tribunal is a non-governmental body for commercial and investment disputes.
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XTL Biopharmaceuticals Ltd. reported on Friday that its wholly owned subsidiary, The Social Proxy Ltd., has filed a formal application for insolvency proceedings with an Israeli court, Investing.com reported. The announcement was made in a press release statement included in a filing with the U.S. Securities and Exchange Commission. The company stated that the application for an "Order for the Opening of Proceedings" was submitted in accordance with the Israeli Insolvency and Economic Rehabilitation Law, 2018.
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The Central Bank (CBI) of Iran bought $507 million of Tether's USDT stablecoin with the primary purpose of manipulating foreign exchange markets and bolstering the value of the rial, which recently traded at 1.4 million for one U.S. dollar, according to blockchain analytics firm Elliptic, CoinDesk reported. Elliptic said it uncovered the purchases through two leaked documents that allowed researchers to map out the central bank’s wallet infrastructure, "revealing a systematic accumulation of USDT totaling at least half a billion dollars,” a report by Tom Robinson said.
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