Imperial Pacific could go into receivership today

Imperial Pacific faces several lawsuits.
Imperial Pacific faces several lawsuits.

Joyce Tang has been appointed as the receiver of the investment holding company Imperial Pacific.

The Northern Mariana Islands.- Imperial Pacific International could go into receivership today by court order if it does not pay close to US$2m.

The company must pay US$1,182,800 to the US Department of Labor (DOL) as part of sanctions ordered by a federal judge in January.

It must also deposit US$800,000 into an escrow account for the future payment of employee wages.

Joyce Tang has been appointed as the receiver. In the event that IPI does not pay in time, Tang will be legally authorised to take possession of the defendants’ property, including all buildings, fixtures and equipment.

The US DOL has also restricted IPI from participating in the H-2B visa programme for five years, which could affect its ability to hire new workers.

At present, IPI is implicated in various lawsuits, most of which relate to unpaid bills. The operator is facing the possible suspension of its casino licence in Saipan for failing to comply with regulations.

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Imperial Pacific