Pacific Rim sued IPI for breach of contract<\/strong><\/em><\/a> after the Saipan casino operator refused to pay for services, worth US$5.6 million, at the site of IPI\u2019s Imperial Palace\u2027Saipan. <\/p>\n\n\n\nWorks under the agreement were completed on 30 September 2018.<\/p>\n\n\n\n
According to IPI\u2019s defense, Pacific Rim had overstated the cost of completing the works: \u201cPacific Rim fraudulently obtained from IPI a promissory note, which is therefore unenforceable”. <\/p>\n\n\n\n
IPI added that Pacific Rim had also failed to comply with a contractual obligation to enter into mediation over the matter before filing any lawsuits.<\/p>\n\n\n\n
The court ruling, for US$5.65million, also includes reasonable attorney fees and costs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Imperial Pacific International has been ordered to pay to its former contractor for breaching a promissory note.<\/p>\n","protected":false},"author":2,"featured_media":0,"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), a Saipan-based casino operator, has been ordered by the District Court for the Northern Mariana Islands to pay US$5.65 million to its former contractor, Pacific Rim Land Development LLC. This ruling follows IPI's breach of a promissory note for services rendered at the Imperial Palace\u2027Saipan site, with the court denying IPI's claims of fraudulent overstatement and failure to mediate.","focusai_entities":"Imperial Pacific International (IPI), Pacific Rim Land Development LLC, District Court for the Northern Mariana Islands","focusai_location":"Saipan, Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI Financial Impact","query":"What is the projected impact of this US$5.65 million judgment on Imperial Pacific International's current liquidity, debt covenants, and operational funding for its Saipan casino?"},{"label":"Regulatory Scrutiny","query":"Will this judgment trigger enhanced financial viability assessments or suitability reviews by the Northern Mariana Islands Commonwealth Casino Commission for Imperial Pacific International's license?"}],"footnotes":""},"categories":[160,16331,439],"tags":[29,14213,4503,4024],"class_list":["post-6047","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-elsewhere-news","category-legal-news","tag-casino","tag-imperial-pacific","tag-legal","tag-saipan"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6047","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=6047"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6047\/revisions"}],"predecessor-version":[{"id":21536,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6047\/revisions\/21536"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}