{"id":23639,"date":"2021-10-18T10:22:34","date_gmt":"2021-10-18T13:22:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23639"},"modified":"2026-04-23T14:42:45","modified_gmt":"2026-04-23T17:42:45","slug":"cnmi-court-denies-motion-to-appoint-receiver-for-ipi-sale","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/cnmi-court-denies-motion-to-appoint-receiver-for-ipi-sale","title":{"rendered":"CNMI court denies motion to appoint receiver for IPI sale"},"content":{"rendered":"\n<p>Fanter Corporation had filed a motion for the appointment of a receiver for the sale of IPI\u2019s property.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.-\u00a0<strong>Chief Judge Ramona V. Manglona of the District Court for the NMI<\/strong>\u00a0has denied USA Fanter Corp&#8217;s motion to choose a beneficiary for the sale of\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-complies-with-court-order-in-lawsuit-filed-by-former-employee\">Imperial Pacific International<\/a>\u00a0LLC&#8217;s physical property. She said she will rather give a<strong>\u00a0restricted arrangement of receivership within 24 hours<\/strong>.\u00a0<\/p>\n\n\n\n<p>USA Fanter had sued IPI for its inability to pay the full amount under its construction contract for labour and materials provided for the improvement of IPI\u2019s property. According to Mariana&#8217;s Variety,\u00a0<strong>IPI paid USA Fanter US$300,000<\/strong>\u00a0while the unpaid balance was around $2m<\/p>\n\n\n\n<p>In August 2021,\u00a0<strong>Judge Manglona conceded the solicitation of USA Fanter to select Hong Kong-based Clear Management Ltd<\/strong>. to regulate, gather, or sell any club gaming property in which IPI has an interest, and to play out other demonstrations needed to fulfil a judgment of US$2m.<\/p>\n\n\n\n<p>On September 9, USA Fanter, through lawyer Colin Thompson, requested the court name a beneficiary for IPI, this time, for the offer of genuine property.\u00a0However,\u00a0<strong>IPI lawyer Stephen Nutting argued against the move<\/strong>, saying that USA Fanter &#8220;fails entirely to indicate why its already appointed receiver is not adequate to provide a basis for the extraordinary relief sought.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">CCC seeks revocation of IPI casino licence<\/h2>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ccc-seeks-immediate-revocation-of-ipi-casino-licence\">Andrew Yeom<\/a>, CCC\u2019s executive director, has called for\u00a0<strong>Imperial Pacific International\u2019s (IPI)\u00a0<\/strong>gaming licence to be permanently revoked. According to Yeom,<strong>\u00a0IPI failed to comply with CCC\u2019s final order<\/strong>\u00a0in four enforcement actions that were entered over five months ago.<\/p>\n\n\n\n<p><strong>Imperial Pacific International\u2019s (IPI)<\/strong>&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/imperial-pacific-faces-saipan-casino-licence-suspension\" rel=\"noreferrer noopener\">gaming licence has already been suspended<\/a>&nbsp;indefinitely as the operator failed to comply with regulatory orders. The Commonwealth Casino Commission board ordered&nbsp;<strong>IPI to pay a penalty of US$6.6m<\/strong>, an annual casino exclusive licence fee of US$15.5m and&nbsp;<strong>annual casino regulatory fees of US$3.1m<\/strong>.<\/p>\n\n\n\n<p>However, according to Yeom, the casino operator failed to pay the US$3.1m casino regulatory fee on Oct. 1, 2020, and subsequently on March 3, 2021. The company also failed to pay the US$15.5m annual exclusive casino license fee on Aug. 12, 2020, and subsequently on Aug. 12, 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fanter Corporation had filed a motion for the appointment of a receiver for the sale of IPI\u2019s property.<\/p>\n","protected":false},"author":176,"featured_media":23653,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The District Court for the NMI denied USA Fanter Corp's motion for a specific receiver for Imperial Pacific International's (IPI) real property, opting for a restricted receivership arrangement. Concurrently, the Commonwealth Casino Commission (CCC) is pushing for the permanent revocation of IPI's indefinitely suspended gaming license due to persistent non-compliance with regulatory fee payments and penalties, highlighting severe governance and financial distress for the operator.","focusai_entities":"Fanter Corporation, USA Fanter Corp, Imperial Pacific International LLC, IPI, Ramona V. Manglona, Clear Management Ltd., Colin Thompson, Stephen Nutting, Commonwealth Casino Commission, CCC, Andrew Yeom","focusai_location":"Northern Mariana Islands, Hong Kong","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 License Revocation Impact","query":"What are the broader implications for the Northern Mariana Islands' iGaming market and potential new entrants if Imperial Pacific International's exclusive casino license is permanently revoked?"},{"label":"Receivership Scope","query":"How will the 'restricted arrangement of receivership' impact the recovery of assets for creditors like USA Fanter Corp, particularly distinguishing between gaming and real property assets?"}],"footnotes":""},"categories":[16336,156],"tags":[14213,23907],"class_list":["post-23639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","tag-imperial-pacific","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23639","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=23639"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23639\/revisions"}],"predecessor-version":[{"id":23644,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23639\/revisions\/23644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/23653"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}