{"id":25082,"date":"2021-12-01T11:06:59","date_gmt":"2021-12-01T14:06:59","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=25082"},"modified":"2026-04-23T13:19:42","modified_gmt":"2026-04-23T16:19:42","slug":"ipi-equipment-auction-postponed-for-30-days","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ipi-equipment-auction-postponed-for-30-days","title":{"rendered":"IPI equipment auction postponed for 30 days"},"content":{"rendered":"\n<p>The receiver Clear Management has postponed the first of six auctions of IPI\u2019s gaming equipment to give the company time to settle a lawsuit with a former contractor.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.- IPI\u2019s receiver Clear Management Ltd has announced that\u00a0its first auction for the<strong> sale of the casino operator&#8217;s assets<\/strong> has been postponed for 30 days. The decision was taken to allow IPI more time to settle a lawsuit with a former contractor. The sale will be cancelled if IPI can reach an agreement before December 15.<\/p>\n\n\n\n<p>A week ago,\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-seeks-to-avoid-auction-by-paying-usa-fanter-through-restricted-account\">IPI proposed that it deposit more than $2m<\/a>\u00a0in a restricted account controlled by the Federal Court to cover a judgment in favour of former contractor USA Fanter Corporation. The company <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/cnmi-court-denies-motion-to-appoint-receiver-for-ipi-sale\">had sued IPI<\/a> for failure to pay the full contract for labour and materials provided for the improvement of its property in Garapan.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/first-ipi-equipment-auction-to-be-held-on-november-30\">The first of the six auctions<\/a>\u00a0was originally scheduled to be held on November 30, to raise funds to pay an unpaid balance of around $2m. If the parties cannot agree on the terms, the first auction will now go ahead on December 31, with five auctions to follow. Clear Management expects to receive fees and costs in the event of termination.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The receiver Clear Management has postponed the first of six auctions of IPI\u2019s gaming equipment to give the company time to settle a lawsuit with a former contractor.<\/p>\n","protected":false},"author":176,"featured_media":25101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Clear Management, the receiver for IPI, has postponed the initial auction of IPI's gaming equipment by 30 days. This delay is to facilitate a potential settlement between IPI and former contractor USA Fanter Corporation regarding an outstanding $2 million lawsuit. If a settlement is not reached by December 15, the auction will proceed on December 31.","focusai_entities":"Clear Management Ltd, IPI, USA Fanter Corporation","focusai_location":"Northern Mariana Islands, Garapan","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.95), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Settlement Terms?","query":"What are the specific financial and non-financial terms of the proposed settlement between IPI and USA Fanter Corporation, and how do they compare to the initial judgment?"},{"label":"Liquidation Timeline Impact?","query":"How does this 30-day postponement affect the overall timeline for IPI's asset liquidation process and the projected distribution schedule for other creditors?"}],"footnotes":""},"categories":[16336,157],"tags":[14213,22674],"class_list":["post-25082","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/25082","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=25082"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25082\/revisions"}],"predecessor-version":[{"id":25093,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25082\/revisions\/25093"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25101"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=25082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=25082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=25082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}