{"id":26576,"date":"2022-01-25T11:00:54","date_gmt":"2022-01-25T14:00:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=26576"},"modified":"2026-04-23T11:56:41","modified_gmt":"2026-04-23T14:56:41","slug":"ipi-to-guarantee-bonds-to-further-extend-receivership","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ipi-to-guarantee-bonds-to-further-extend-receivership","title":{"rendered":"IPI to guarantee bonds to further extend receivership"},"content":{"rendered":"\n<p>IPI will provide security to suspend enforcement of other creditors&#8217; judgments.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.- Imperial Pacific International has agreed to&nbsp;<strong>provide sufficient security to suspend enforcement of other creditors&#8217; judgments<\/strong>, which will further suspend the receivership currently scheduled to resume next month.<\/p>\n\n\n\n<p>According to a joint provision, other creditors approached by&nbsp;<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/usa-fanter-is-no-longer-interested-in-ipis-limited-receivership\">USA Fanter<\/a> have been working to reach a definitive agreement with IPI.<\/p>\n\n\n\n<p>Ping Shun Corp,\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/creditors-oppose-ipi-request-to-extend-stay-on-receivership\">one of the creditors<\/a>, said in a statement shared by Saipan Tribune: &#8220;In the event IPI defaults, as defined in the Stay Agreement, including by failing to increase the value of the supersedeas bond to $445,000 on or before Feb. 22, and fails to cure the default within the cure period defined in the stay agreement, then the $250,000 supersedeas bond posted by IPI shall be promptly released to Ping Shun.\u201d\u00a0<\/p>\n\n\n\n<p><strong>Chief Justice Ramona Manglona&nbsp;<\/strong>said in a previous order that she did not fully discharge the receivership because other creditors had supported the original judgment against USA Fanter. <\/p>\n\n\n\n<p>A few weeks ago, Manglona revealed \u201cIPI fulfilled its promise to&nbsp;<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-to-provide-supersedeas-bond-in-lawsuit-filed-by-usa-fanter\">secure a bond totalling $2.45m<\/a>\u201d for the judgement in the lawsuit filed by USA Fanter Corp. In her order, the judge also approved IPI\u2019s motion to suspend the judgment during the appeal period; to approve the appeal deposit; to suspend the execution of the judgment during the appeal period, and to stay the receivership.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPI will provide security to suspend enforcement of other creditors&#8217; judgments.<\/p>\n","protected":false},"author":176,"featured_media":26602,"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 agreed to provide sufficient security, including a $2.45 million bond, to suspend the enforcement of other creditors' judgments, thereby further suspending a scheduled receivership. This agreement, involving creditors like Ping Shun Corp, outlines conditions for bond increases and potential release of funds if IPI defaults on its obligations.","focusai_entities":"Imperial Pacific International, USA Fanter, Ping Shun Corp, Ramona Manglona","focusai_location":"Northern Mariana Islands, Saipan","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.95), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.8)","focusai_suggestions":[{"label":"IPI License Impact?","query":"What are the long-term implications of IPI's ongoing financial and legal challenges on its operational license and regulatory standing in the Northern Mariana Islands, particularly concerning its ability to generate sustainable GGR\/NGR?"},{"label":"Debt Restructuring Timeline?","query":"How does this temporary suspension of receivership impact the overall debt restructuring efforts and the projected timeline for IPI's financial recovery and operational stability within the current governance frameworks?"}],"footnotes":""},"categories":[16336,439],"tags":[23911,14213,22674],"class_list":["post-26576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-legal-news","tag-gambling-regulation","tag-imperial-pacific","tag-ipi"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26576","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=26576"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26576\/revisions"}],"predecessor-version":[{"id":26607,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26576\/revisions\/26607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26602"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=26576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=26576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=26576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}