N. Mariana Islands claim priority over IPI assets

N. Mariana Islands claim priority over IPI assets

IPI owes the islands over US$9 million in taxes, while Pacific Rim is asking for US$5 million to Pacific Rim for unpaid work.  

Northern Mariana Islands.- The islands’ government has said that its claim against Imperial Pacific International (IPI) for unpaid taxes should be considered before Pacific Rim’s claim for unpaid work.

Pacific Rim has obtained several court orders to seize money and goods to cover IPI’s debts for unpaid works at its casino on Saipan.

The developer has been allowed to seize funds from IPI bank accounts, but claims the casino operator still owes US$5.5bn plus interest, costs, and fees.

The islands’ government meanwhile says it is owed US$9.4bn in unpaid business gross revenue taxes.

Now the Office of the Attorney General has filed a note at the US District Court arguing that the tax lien should come first before settling IPI’s debts with Pacific Rim, and that the government should be given priority in assets seizures.

Assistant attorney general Dustin Rollins wrote: “As the Commonwealth’s tax lien was filed in accordance with applicable law, the Commonwealth asserts that its lien has priority over any unrecorded judgments or unperfected liens of Pacific Rim Land Development LLC.”

In this article:
Imperial Pacific Northern Mariana Islands Pacific Rim