{"id":777009986,"date":"2023-10-09T07:40:21","date_gmt":"2023-10-09T10:40:21","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777009986"},"modified":"2026-04-22T17:22:49","modified_gmt":"2026-04-22T20:22:49","slug":"nmi-opposition-to-century-estates-participation-in-limited-receivership","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nmi-opposition-to-century-estates-participation-in-limited-receivership","title":{"rendered":"NMI: opposition to Century Estate’s participation in limited receivership"},"content":{"rendered":"\n

Joshua Gray has opposed Century Estate Investment’s bid to intervene.<\/p>\n\n\n\n\n\n\n\n

Northern Mariana Islands.- Joshua Gray<\/strong>, a former director of operations who won a discrimination lawsuit<\/a> against Imperial Pacific International (IPI), has filed an opposition to the intervention motion<\/a> requested by creditor Century Estate Investment.<\/p>\n\n\n\n

The creditor of IPI <\/strong>has filed a motion to intervene in Gray\u2019s pursuit of receivership in the US District Court for the Northern Mariana Islands. The company argues that its loan to IPI provided in February 2022, should take precedence over Gray\u2019s claims.<\/p>\n\n\n\n

Gray, represented by attorneys Aaron Halegua and Bruce Berline, contends that Century Estate has not demonstrated a valid claim to intervene in the matter.<\/p>\n\n\n\n

According to Saipan Tribune, to qualify for intervention, four key criteria must be satisfied<\/strong>: timeliness, a direct interest related to the litigation, potential impairment of the intervenor’s interest without intervention, and inadequate representation by existing parties to the action. Gray’s opposition motion asserts that Century Estate has not provided evidence to substantiate its claim under these criteria.<\/p>\n\n\n\n

Century Estate delayed its motion to intervene, waiting approximately ten weeks from Gray’s initial application for a writ of execution. Gray’s legal team argues that this delay prejudices their client, who had proceeded under the assumption that no other claims were being made on the property in question.<\/p>\n\n\n\n

Regarding the second criterion, Gray’s lawyers dispute Century Estate’s assertion of a valid security interest, suggesting that the evidence presented could be fraudulent. They contend that the mortgage documents submitted by Century Estate may stem from a fraudulent conveyance and should be invalidated.<\/p>\n\n\n\n

See also:<\/strong>\u00a0Controversy over Century Estate loan to IPI<\/a><\/p>\n\n\n\n

Gray\u2019s lawyers stated: “In fact, Century Estate [previously] stated that it seeks to intervene in this action in order to have the right to move forward and order liquidation of assets to mitigate its losses. <\/p>\n\n\n\n

“If this is truly what Century Estate seeks\u2014as opposed to obstructing other creditors from liquidating IPI\u2019s assets and satisfying their debts\u2014then it has not carried its burden of showing why plaintiff cannot adequately represent its interest to liquidate those assets.”<\/p>\n\n\n\n

The dispute is scheduled for a hearing before U.S. District Court for the NMI chief judge Ramona V. Manglona <\/strong>on October 26.<\/p>\n","protected":false},"excerpt":{"rendered":"

Joshua Gray has opposed Century Estate Investment’s bid to intervene.<\/p>\n","protected":false},"author":176,"featured_media":21187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Joshua Gray, a former Imperial Pacific International (IPI) director, has opposed Century Estate Investment's motion to intervene in his pursuit of receivership against IPI. Century Estate, an IPI creditor, seeks to prioritize its loan over Gray's claims, but Gray's legal team disputes the validity of Century Estate's claim and alleges potential fraudulent conveyance. The dispute, concerning asset liquidation and creditor priority, is scheduled for a hearing on October 26.","focusai_entities":"Joshua Gray, Century Estate Investment, Imperial Pacific International, Aaron Halegua, Bruce Berline, Saipan Tribune, U.S. District Court for the NMI, Ramona V. Manglona","focusai_location":"Northern Mariana Islands, Saipan","focusai_target_profile":"ceo_executive (0.85), regulator (0.75), compliance_legal (0.95), operator_casino (0.8), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI Creditor Priority Impact?","query":"What are the potential implications for other Imperial Pacific International creditors if Century Estate Investment's alleged fraudulent conveyance is substantiated or dismissed?"},{"label":"NMI Regulatory Precedent?","query":"How might the U.S. District Court for the NMI's ruling on this receivership and creditor intervention set a precedent for regulatory oversight and asset recovery in distressed iGaming operations within the jurisdiction?"}],"footnotes":""},"categories":[16336,439],"tags":[24134],"class_list":["post-777009986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-legal-news","tag-imperial-pacific-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009986","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=777009986"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009986\/revisions"}],"predecessor-version":[{"id":777041187,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009986\/revisions\/777041187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21187"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777009986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777009986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777009986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}