NMI court denies Century Estate motion to intervene in IPI receivership

Century Estate claims that its loan to IPI should take precedence.
Century Estate claims that its loan to IPI should take precedence.

Chief Judge Ramona V. Manglona has denied the motion to intervene in Joshua Gray’s lawsuit against IPI.

Northern Mariana Islands.- Chief judge Ramona V. Manglona of the District Court for the NMI has ruled against Century Estate Investment’s attempt to intervene in a lawsuit between Joshua Gray and Imperial Pacific International (IPI). The judge also granted Gray’s request for an order to show cause, seeking the appointment of a limited receiver.

IPI’s creditor had filed a motion to intervene in Gray’s pursuit of receivership arguing that its US$9m loan to IPI in February 2022, should take precedence over Gray’s claims. lt sought the right to intervene and initiate the liquidation of assets. Gray’s had secured an award in a discrimination lawsuit.

A week ago, chief Manglona awarded the Commonwealth Casino Commission (CCC) US$94,068.15 to cover fees and expenses incurred due to a preliminary injunction that compelled the CCC to enter into arbitration with IPI. The ruling deems that the CCC was wrongly restrained when the court issued a temporary restraining order (TRO) and subsequent injunction, which prohibited the CCC from proceeding with plans to revoke IPI’s casino licence.

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Imperial Pacific International