{"id":777001966,"date":"2023-02-01T13:19:38","date_gmt":"2023-02-01T16:19:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777001966"},"modified":"2026-04-23T01:02:12","modified_gmt":"2026-04-23T04:02:12","slug":"court-to-rule-on-third-auction-of-ipi-gaming-equipment-next-week","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/court-to-rule-on-third-auction-of-ipi-gaming-equipment-next-week","title":{"rendered":"Court to rule on third auction of IPI gaming equipment next week"},"content":{"rendered":"\n

The District Court for the NMI will determine whether to approve the sale of IPI’s gaming equipment.<\/p>\n\n\n\n\n\n\n\n

Northern Mariana Islands.- The District Court for the NMI will decide next week whether to approve the sale of Imperial Pacific International <\/strong>(IPI) gaming equipment through a third auction that took place on January 6.<\/a> The court will decide whether to approve the sale on February 9.<\/p>\n\n\n\n

Clear Management Ltd<\/strong>, the court-appointed receiver, requested the approval through attorney Michael White<\/strong> last week. White requested the court order the receiver to collect the remaining 85 per cent of successful bids, execute the appropriate bills of sale and deliver the items to the successful bidders.<\/p>\n\n\n\n

According to White, six bids<\/strong> were received during the third auction with sales of 14 lots granted to two bidders, with a total value of $101,550. Each successful bidder has already paid 15 per cent of the bid. The funds are being held in an escrow account pending further court orders.<\/p>\n\n\n\n

Clear Management will hold its fourth series of IPI gaming equipment auctions on February 9. The sale will focus primarily on IPI\u2019s remaining slot machine inventory. Approved sales from the first two auctions raised $711,600. Meanwhile, IPI is looking for investors<\/a> to help it reopen its casino in Saipan next year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The District Court for the NMI will determine whether to approve the sale of IPI’s gaming equipment.<\/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 District Court for the NMI is set to approve the sale of Imperial Pacific International's (IPI) gaming equipment from a third auction, with a fourth auction scheduled for remaining slot inventory. These court-ordered sales, managed by Clear Management Ltd, are part of ongoing asset liquidation efforts. Concurrently, IPI is actively seeking investors to facilitate the reopening of its Saipan casino next year.","focusai_entities":"Imperial Pacific International (IPI), Clear Management Ltd, Michael White","focusai_location":"Northern Mariana Islands, 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":"IPI Asset Allocation?","query":"What are the total estimated proceeds from all IPI asset auctions, and how will these funds be allocated to creditors and other stakeholders under the NMI's legal framework?"},{"label":"IPI Reopening Pathway?","query":"What is the regulatory and licensing pathway for Imperial Pacific International to secure new investment and potentially resume casino operations in Saipan, considering its current distressed status and ongoing asset sales?"}],"footnotes":""},"categories":[16336,157],"tags":[24134],"class_list":["post-777001966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-imperial-pacific-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001966","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=777001966"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001966\/revisions"}],"predecessor-version":[{"id":777001992,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001966\/revisions\/777001992"}],"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=777001966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777001966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777001966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}