appeal bond<\/a>\u00a0for the judgement in a lawsuit filed by USA Fanter Corp. The plaintiffs therefore sought to lift the stay so that IPI\u2019s gaming equipment could be sold to satisfy their judgment against IPI.<\/p>\n\n\n\nAccording to The Saipan Tribune, a status conference on the matter will be scheduled sometime in September. Manglona said she had previously asked parties to clarify what items were included in the limited receivership and could be sold by Clear Management.<\/p>\n\n\n\n
However, beyond its arguments that slot machines cannot be sold under 4 CMC \u00a7 51564 and that all limited receiverships should be dissolved, IPI did not provide an analysis of what items should or should not be sold by Clear Management pursuant to a court order.<\/p>\n\n\n\n
As IPI failed to comply with the court’s request, Manglona determined that\u00a0all of IPI’s “casino utilities” previously investigated\u00a0<\/strong>and determined by Clear Management may be sold. The order provides that\u00a0Clear Management will be authorised to sell any gaming equipment found during inspections<\/strong>\u00a0in compliance with the ruling.<\/p>\n\n\n\nCCC close to running out of funds<\/h2>\n\n\n\n
The\u00a0Commonwealth Casino Commission<\/strong>\u00a0(CCC) is rapidly running out of funds due to the uncertain future of Imperial Pacific International<\/strong>. Commonwealth Casino Commissioner\u00a0Martin Mendiola<\/strong>\u00a0said the regulator is \u201cat the finish line of its budget\u201d and that the commission is \u201cthe real victim\u201d of the federal court\u2019s temporary restraining order that prevents it from revoking IPI’s exclusive casino licence for its failure to meet its obligations.<\/p>\n\n\n\nAccording to Mariana\u2019s Variety, from an original team of 50, the regulator is down to just 10 employees<\/strong>. The commission is reported to have less than $300,000, which may last only until November. <\/p>\n\n\n\nCommission chairman Edward C. Deleon Guerrero<\/strong> said the CCC\u2019s dire financial situation \u201cis something I feel I have to bring to the attention of the Office of the Governor.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The CNMI Court still needs to approve the assets that will be put up for sale.<\/p>\n","protected":false},"author":176,"featured_media":19434,"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 CNMI Court's approval is pending for the auction of Imperial Pacific International (IPI) assets, including gaming equipment, to satisfy a judgment against the operator. Concurrently, the Commonwealth Casino Commission (CCC) faces severe financial distress, nearing budget exhaustion due to the ongoing uncertainty surrounding IPI and a federal court's temporary restraining order preventing licence revocation.","focusai_entities":"Clear Management, IPI, Imperial Pacific International, USA Fanter Corp., Commonwealth Casino Commission, CCC, Ramona Manglona, Martin Mendiola, Edward C. Deleon Guerrero","focusai_location":"Northern Mariana Islands, CNMI, Saipan","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"CCC Funding Impact?","query":"What specific measures is the Office of the Governor considering to address the Commonwealth Casino Commission's dire financial situation and ensure continued regulatory oversight in the CNMI?"},{"label":"IPI Asset Valuation?","query":"What is the estimated market valuation of IPI's gaming equipment and casino utilities slated for auction, and how will the proceeds be prioritized among creditors, including the CCC?"}],"footnotes":""},"categories":[16336,154],"tags":[24134],"class_list":["post-33144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-legislation-news","tag-imperial-pacific-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33144","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=33144"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33144\/revisions"}],"predecessor-version":[{"id":33149,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33144\/revisions\/33149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19434"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}