Contracter says IPI should pay debts before having casino licence restored
USA Fanter has written to the Commonwealth Casino Commission.
Northern Mariana Islands.- Guocao Qian, the president of former Imperial Pacific International (IPI) contractor USA Fanter has insisted that the casino operator should be forced to pay debts before having its licence restored.
In a letter to the Commonwealth Casino Commission’s (CCC), Qian highlighted the regulator’s June 2020 order on the matter. The order, signed by CCC chair Edward C. DeLeon Guerrero, mandates that IPI must pay any outstanding obligations to private entities, as ordered by a court of competent jurisdiction, and settle any debts more than 89 days old.
In one lawsuit against IPI, USA Fanter was awarded US$500,000, plus post-judgment interest at 4.34 per cent per annum. In another, it was awarded $226,127, plus post-judgment interest at 4.76 per cent per annum.
Tony Muña, a general consultant for USA Fanter, confirmed during the board’s monthly meeting that he authored the letter on behalf of Qian. US Fanter says selling IPI’s remaining assets will not be sufficient to satisfy creditors.
See also: IPI licence revocation hearing to take place on January 31
