Imperial Pacific pays July settlement payment
Imperial Pacific has reported that it has paid its scheduled settlement payments for July although it did so a day late.
Northern Mariana Islands.- Imperial Pacific International (IPI) has reported that it has paid out its July settlement payment. There was some confusion because the casino operator made the payment a day late.
The payment forms part of a court order to pay $1.58m in liquidated damages and $200,000 in civil penalties. IPI must make six more payments of $164,270.08 to the US Department of Labor before December 1. The next payment will be on July 16, according to IPI’s lawyer Michael W. Dotts.
In April, IPI’s gaming licence was suspended indefinitely as the operator failed to comply with regulatory orders.
The Commonwealth Casino Commission board has ordered IPI to pay a penalty of US$6.6m, an annual casino exclusive licence fee of US$15.5m and annual casino regulatory fees of US$3.1m.
According to the Commonwealth Casino Commission (CCC), IPI violated five orders including a failure to pay its US$3.1m annual regulatory fee in 2020 and failure to comply with an order to settle debts with vendors.
IPI unable to send signed documents to the Commonwealth Casino Commission
Although Ray Yumul is the IPI’s current chief executive officer, the CCC said his application won’t be considered as submitted in full until the company pays the applicable fee. As such, he cannot sign official documents.
The only authorised person to sign or submit documents on behalf of the company is Frances Mafnas, IPI Treasury Director, but he is not licensed as a casino key employee.
According to Saipan Tribune, IPI reports submitted with no signature could be invalid.
Andrew Yeom, CCC executive director, said that due to IPI’s non-payment of regulatory fees, they cannot issue new or renew casino key employee (CKE) or regular employee licences.
The CCC is debating how to proceed in order to discuss matters or receive certain submissions without having to break its own regulations.
To temporarily amend the situation, the CCC said it’s willing to register IPI’s non-gaming employees Redie Dela Cruz (human resources director) and Tao Xing (SVP of public affairs).
