CCC and IPI still haven’t signed a settlement agreement

Local media report that negotiations between the regulator and casino operator are ongoing.

Northern Mariana Islands.- Despite reports that a settlement between Imperial Pacific International and the Commonwealth Casino Commission might be reached last week, it appears that an agreement has yet to be signed. According to the Saipan Tribune, no agreement has been reached and the two parties continue to negotiate.

IPI and CCC informed the Northern Mariana Islands chief justice Ramona Manglona at the US District Court last week that their long-awaited settlement was expected to be completed by July 18. Yesterday (July 18), Manglona asked the parties to notify the court when the agreement was finalised.

However, she noted if the parties failed to reach an agreement by the end of the day, the CCC had until July 22 to file an opposition to IPI’s motion for a preliminary injunction that prevents the CCC from revoking IPI’s casino licence. IPI, for its part, would need to file any reply by July 29.

IPI had reported that it hopes to secure enough investment to ensure it could make the financial commitments required by a settlement, which would resolve the CCC’s five complaints against IPI filed by executive director Andrew Yeom.