1000 words answer on case study about tort law

Mr. Z owns an established company in XYZ Country and making a good profit. One day he found a statement made by Mr. Biggie in a social media stating that Mr. Z is having a connection with Israel. At the same time Minister SS had debated in the Parliament proposing that the law must be introduced to ban any person who has a business connection with the Israel from leaving the country. Minister SS mentioned the name of Mr. Z as an example. Consequently, few investors withdrew their shares and few suppliers cut off their business with Mr. Z’s company. Mr. Z contended that the statement was made because Mr. Biggie is jealous of his successful.
In light of the above scenario, by using the IRAC method discuss the right and liabilities of all parties.