{"id":20375,"date":"2021-07-16T15:55:24","date_gmt":"2021-07-16T15:55:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=20375"},"modified":"2026-04-23T17:32:40","modified_gmt":"2026-04-23T20:32:40","slug":"more-ipi-assets-to-be-sold-to-settle-debts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/more-ipi-assets-to-be-sold-to-settle-debts","title":{"rendered":"More IPI assets to be sold to settle debts"},"content":{"rendered":"\n

Chief Judge Ramona V. Manglona has approved a new auction of IPI assets to settle debts of over $5m from two lawsuits.<\/p>\n\n\n\n\n\n\n\n

Northern Mariana Islands.-\u00a0Assets belonging to Imperial Pacific International (IPI)\u00a0<\/strong>will continue to be sold in order to settle sums due through lawsuits.<\/p>\n\n\n\n

Chief Judge Ramona V. Manglona\u00a0<\/strong>has issued an execution in favour of\u00a0seven construction workers<\/a>\u00a0who sued IPI for labour violations.\u00a0IPI was ordered to pay them $5.9m<\/strong>.<\/p>\n\n\n\n

According to Saipan Tribune, the other lawsuit was brought by\u00a0Ping Shun Corp, which was awarded $443,900.50<\/strong>.<\/p>\n\n\n\n

Last week, IPI<\/a> was ordered to sell its vehicles and gaming machines to comply with a $2.1m judgement in favour of construction firm USA Fanter<\/a>.<\/p>\n\n\n\n

The Commonwealth Casino Commission has ordered the suspension of Imperial Pacific International\u2019s gaming licence<\/strong> until the company meets the required payments.<\/p>\n\n\n\n

Concerns over second casino licence<\/strong><\/h2>\n\n\n\n

Two minority bloc members, Edith Deleon Guerrero and Paul A. Manglon, have written a letter expressing their concern regarding a bill to authorise a second casino licence<\/a> if IPI\u2019s exclusive licence is revoked.<\/p>\n\n\n\n

The new bill states: \u201cIf the exclusive casino license is revoked,\u00a0the CNMI should take the opportunity to overhaul the casino industry<\/strong>\u00a0by revisiting the casino statutory provisions and regulations to improve the industry.\u201d<\/p>\n\n\n\n

In June, Andrew Yeom<\/strong>, the CCC\u2019s executive director<\/a>, said: \u201cIt would be better for us [if there are other casinos], but we only have one exclusive licensee<\/strong>.\u201d<\/p>\n\n\n\n

He said money from the government \u201cmay be enough for personnel and operations costs<\/strong> for now, but it won\u2019t last long.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Chief Judge Ramona V. Manglona has approved a new auction of IPI assets to settle debts of over $5m from two lawsuits.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Imperial Pacific International (IPI) faces ongoing asset liquidation to satisfy over $5 million in legal judgments for labor violations and contractor debts. Concurrently, the Commonwealth Casino Commission has suspended IPI's exclusive gaming license due to non-payment, prompting legislative discussions regarding a potential second casino license and a broader overhaul of the Northern Mariana Islands' casino industry regulatory framework.","focusai_entities":"Imperial Pacific International, Ramona V. Manglona, Ping Shun Corp, USA Fanter, Commonwealth Casino Commission, Edith Deleon Guerrero, Paul A. Manglon, Andrew Yeom","focusai_location":"Northern Mariana Islands, Saipan","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI Debt Resolution?","query":"What is the projected timeline for the full resolution of Imperial Pacific International's outstanding financial obligations, and what is the estimated recovery rate for creditors from the ongoing asset auctions?"},{"label":"License Revocation Impact?","query":"How would the revocation of Imperial Pacific International's exclusive gaming license impact the Commonwealth Casino Commission's operational funding and the broader economic outlook for the Northern Mariana Islands?"}],"footnotes":""},"categories":[16336,157],"tags":[14213,22674],"class_list":["post-20375","post","type-post","status-publish","format-standard","hentry","category-australasia-news","category-business-news","tag-imperial-pacific","tag-ipi"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=20375"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20375\/revisions"}],"predecessor-version":[{"id":20405,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20375\/revisions\/20405"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=20375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=20375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=20375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}