{"id":25390,"date":"2021-12-09T11:54:27","date_gmt":"2021-12-09T14:54:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=25390"},"modified":"2026-04-23T13:04:35","modified_gmt":"2026-04-23T16:04:35","slug":"ipi-to-provide-supersedeas-bond-in-lawsuit-filed-by-usa-fanter","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ipi-to-provide-supersedeas-bond-in-lawsuit-filed-by-usa-fanter","title":{"rendered":"IPI to provide supersedeas bond in lawsuit filed by USA Fanter"},"content":{"rendered":"\n<p>Imperial Pacific International has confirmed it will provide a $2.45m defendant&#8217;s appeal bond for the judgement in the lawsuit filed by USA Fanter Corp.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.-<strong>\u00a0Imperial Pacific International\u00a0<\/strong>has agreed to provide\u00a0<strong>$2.45m in replacement bonds<\/strong>\u00a0as a security for the judgment in the lawsuit brought by USA Fanter Corp against the casino operator. The two companies&#8217; attorneys proposed a provision regarding the security interest provided by IPI related to its motion to suspend the judgment during the appeal period.<\/p>\n\n\n\n<p>According to Mariana&#8217;s Variety, IPI has agreed not to object to receivership nor to bring a motion for a further stay of the receivership if it fails to obtain the bond 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-equipment-auction-postponed-for-30-days\">the receiver Clear Management Ltd<\/a>\u00a0postponed its first scheduled auction for the<strong>\u00a0sale of IPI\u2019s assets<\/strong>\u00a0for 30 days.\u00a0The decision was taken<strong>\u00a0to allow IPI more time to settle a lawsuit with a former contractor<\/strong>. The sale will be cancelled if IPI can reach an agreement before December 15.<\/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.\u00a0If the parties cannot agree on terms, the first auction will 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>Imperial Pacific International has confirmed it will provide a $2.45m defendant&#8217;s appeal bond for the judgement in the lawsuit filed by USA Fanter Corp.<\/p>\n","protected":false},"author":176,"featured_media":25406,"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) has committed to providing a $2.45 million appeal bond in its ongoing litigation with USA Fanter Corp, a critical maneuver to potentially suspend a judgment during the appeal period. This action is set against the backdrop of a court-appointed receivership managed by Clear Management Ltd, which has temporarily halted asset auctions to facilitate a potential settlement by December 15, thereby offering IPI a narrow window to avert the forced divestiture of its operational assets.","focusai_entities":"Imperial Pacific International, USA Fanter Corp, Clear Management Ltd","focusai_location":"Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.95), operator_casino (0.85), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI Solvency Impact?","query":"What is the projected impact of this appeal bond and potential asset sale on Imperial Pacific International's long-term solvency and operational licensing status within the Northern Mariana Islands jurisdiction?"},{"label":"Receivership Precedent?","query":"How might the Clear Management Ltd receivership process and the outcome of IPI's asset disposition set a precedent for future regulatory interventions in financially distressed iGaming operators?"}],"footnotes":""},"categories":[16336,157],"tags":[14213,22674],"class_list":["post-25390","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\/25390","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=25390"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25390\/revisions"}],"predecessor-version":[{"id":25410,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25390\/revisions\/25410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25406"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=25390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=25390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=25390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}