Clear Management is claiming payment of the commission on its auctions of IPI’s gaming equipment.<\/p>\n\n\n\n\n\n\n\n
Northern Mariana Islands.- Clear Management<\/strong> has requested the release of over US$35,000 in commission earned from its latest auctions<\/a> of Imperial Pacific International’s gaming equipment. As receiver, Clear Management is entitled to a 10 per cent commission on the proceeds of US$354,240 <\/strong>raised in the auctions.<\/p>\n\n\n\n Clear Management’s lawyer, Michael White<\/strong>, has requested the US District Court for the NMI authorise the release of the funds held in an escrow trust account by The Law Offices of Michael A. White, LLC.<\/p>\n\n\n\n The second auction<\/a> of IPI equipment attracted eight bidders, of which only four were successful. The total value of acceptable bids was US$252,092. In a third auction<\/a>, six bidders submitted bids for 14 lots. Of the three successful bidders, two were successful bidders from previous auctions and one was a new bidder. The total value of the accepted bids was US$101,550.<\/p>\n\n\n\n The Commonwealth Casino Commission (CCC) <\/strong>chairman Edward C. Deleon Guerrero<\/strong> has said that IPI now owes over US$55.4m<\/strong> in unpaid licence and regulatory fees. It has not paid its fees since 2020 due to the pandemic.<\/p>\n\n\n\n Guerrero said IPI owes the CCC more than US$46m in accrued US$15.5m annual license fees and US$9.4m for its US$3.1m annual regulatory fee. <\/p>\n","protected":false},"excerpt":{"rendered":" Clear Management is claiming payment of the commission on its auctions 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":"Clear Management is seeking over US$35,000 in commission from recent auctions of Imperial Pacific International's (IPI) gaming equipment, held as part of IPI's receivership. Concurrently, the Commonwealth Casino Commission (CCC) reports IPI now owes over US$55.4m in unpaid annual license and regulatory fees, accumulated since 2020.","focusai_entities":"Clear Management, Imperial Pacific International, IPI, Michael White, The Law Offices of Michael A. White, LLC, Commonwealth Casino Commission, CCC, Edward C. Deleon Guerrero","focusai_location":"Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.95), regulator (1.0), compliance_legal (0.95), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"IPI Debt Recovery Strategy?","query":"What specific legal and financial mechanisms will the Commonwealth Casino Commission employ to recover the outstanding US$55.4m in fees from Imperial Pacific International, beyond the current asset auctions?"},{"label":"NMI Market Impact?","query":"What are the long-term implications of Imperial Pacific International's insolvency and regulatory non-compliance on the Northern Mariana Islands' gaming market attractiveness for new operators and its overall economic development?"}],"footnotes":""},"categories":[16336,156],"tags":[24134],"class_list":["post-777003344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","tag-imperial-pacific-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003344","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=777003344"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003344\/revisions"}],"predecessor-version":[{"id":777003366,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003344\/revisions\/777003366"}],"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=777003344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}IPI owes over US$55.4m in fees to CCC<\/h2>\n\n\n\n