IPI expects to receive sufficient investment to assure its capacity to make the financial commitment required by the settlement agreement.
Northern Mariana Islands.- Imperial Pacific International and the Commonwealth Casino Commission may finally sign a settlement agreement this week following negotiations over the past month. IPI would have to make a financial commitment to avoid the CCC revoking its casino licence.
According to a joint report on the progress of the negotiations, the parties notified the NMI’s US District Court that they have largely agreed to the terms of the settlement agreement and are continuing to negotiate certain final terms. The parties expect to reach a final agreement on terms within the next 24 to 48 hours.
IPI hopes to secure enough investment to ensure it could make the financial commitments required by the settlement, which would resolve the CCC’s five complaints against IPI filed by executive director Andrew Yeom.