CCC to discuss IPI bankruptcy petition
The commission will also discuss Senate Local Bill No. 23-05.
Northern Mariana Islands.- The remaining members of the Commonwealth Casino Commission (CCC) are scheduled to convene tomorrow (May 30) to discuss Imperial Pacific International (IPI)’s Chapter 11 bankruptcy filing. The meeting will be held by the commission’s board chair, Edward C. DeLeon Guerrero, along with vice chair Rafael S. Demapan and commissioner Mariano Taitano.
An executive session is planned, during which the commissioners will seek advice from legal counsel regarding both Chapter 11 reorganisation and Chapter 7 liquidation proceedings.
Responding to inquiries from Saipan Tribune, Demapan clarified that despite vacancies for commissioners representing Tinian and Rota, the three commissioners representing Saipan constitute a quorum for the meeting.
The terms of commissioners Ramon M. Dela Cruz of Tinian and Martin Mendiola of Rota expired on April 30. Governor Arnold I. Palacios has not yet nominated new commissioners.
The commissioners will also discuss Senate Local Bill 23-5, which seeks to permit internet gaming on Tinian. Authored by Senator Jude U. Hofschneider, it proposes to grant the Tinian Casino Gaming Control Commission (TCGCC) the authority to issue 20-year internet gaming licences to investors interested in developing online gaming. The bill does not set a limit on the number of licences that the TCGCC can issue.
