Fri. Jun 21st, 2019

Court extends injunction on sales of any sea passion stocks

Sea Passion Hotel. Photo courtesy: Sea Passion Hotel Facebook page

Palau Court yesterday, vacated the TRO issued on June 3 to stop public sales of 60 shares of Sea Passion.

At hearing to see if the preliminary injunction to stop sales of Sea Passion shares should stop or continue, the court decided to continue the injunction prohibiting sales of Sea Passion shares, public or private, until all the proceedings have been filed.

Earlier court had issued an order to sell half of remaining Sea Passion shares  which was believed to be owned by 7 shareholders of Sea Passion, in order to satisfy creditors.

Current CEO and purported owner of entire Sea Passion Corporation had filed an Intervention to stop the sales claiming he had bought out the shares of the last 7 shareholders of Sea Passion.

Court approved Preliminary Injunction to stop sale of shares on June 3 and yesterday extended that the life of that injunction until proceedings are filed. (By L.N. Reklai)


ICB Bank and Pangea Foundation to cooperate on a password-based financial services business

June 14, 2019 - Palau ICB Bank will launch new financial services based on the Pangea Foundation and cryptography promote business.

ICB Bank on Thursday, the cryptographic currency foundation Pangea (PAN) and block chain-based cryptography and signed business agreement to promote the financial services business.

ICB Bank uses the Pangea Foundation's password currency 'Pangea' to combine financial services. We plan to jointly promote various Pin Tech businesses.

In particular, ICB Bank is working with Pangea Foundation. ICB Bank promote issuance of visa cards and master cards based on cryptography. The company is releasing debit cards that can be settled as collateral.

If a Visa or Master Card is actually issued, payment will be made in everyday life anywhere in the world. It is becomes possible, consumers can use the Visa/Master Card on-line merchant's Bitcoin, Ethereum.

The bank, a financial institution works with the Cryptographic Fund to provide financial services that can be applied in everyday life. The roll out is expected to be the first in the block chain pin tech industry.

An official from the Pangea Foundation said, "Working with the bank, in the future, global credit card companies and we will expand services to Eurpoe, Latin America and other countries in connection with possible banks." he said.

On the other hand, Cryptography Pangea (PAN) is an ERC20-based token used for remittance and payment. Adds a centralize authentication agreement to decentralized lenders technology for faster transaction rates. Billing platform at the same time. Currently, Indonesia, Vietnam, Uzbekistan, Europe, etc. and the Cryptographic Exchange of eight countries in Southeast Asia and Latin America.

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