CCC meeting on IPI casino licence postponed again
The decision was taken after the casino operator applied for Chapter 11 bankruptcy.
Northern Mariana Islands.- Edward C. DeLeon Guerrero, chair of the Commonwealth Casino Commission (CCC) board has announced another postponement of the regulator’s deliberation on whether to revoke Imperial Pacific International’s (IPI) casino licence. The decision comes after Imperial Pacific filed for Chapter 11 bankruptcy protection.
Under Chapter 11 bankruptcy proceedings, Imperial Pacific is granted the opportunity to continue operating while it undergoes financial restructuring and operational adjustments. According to The Saipan Tribune, DeLeon Guerrero, who recused himself from the revocation case, was involved in settlement negotiations with Imperial Pacific’s representatives the previous week on behalf of the CCC’s executive director, Andrew Yeom, whose temporary contract expired on April 13.
Initially scheduled for April 9, the deliberation had already been deferred at the request of the Yeom to allow more time for settlement discussions with IPI.
