{"id":777010093,"date":"2023-10-12T07:51:13","date_gmt":"2023-10-12T10:51:13","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010093"},"modified":"2026-04-22T17:14:17","modified_gmt":"2026-04-22T20:14:17","slug":"century-estate-says-it-provided-two-loans-to-ipi","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/century-estate-says-it-provided-two-loans-to-ipi","title":{"rendered":"Century Estate says it provided two loans to IPI"},"content":{"rendered":"\n<p>Century Estate\u2019s director says the company provided US$19m.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.- Century Estate Investment&#8217;s director, <strong>Zhongxiang Xu<\/strong> has said that the company extended loans totalling US$19m to IPI.\u00a0He made the claim in a federal court declaration supporting Century Estate&#8217;s motion\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/century-estate-seeks-priority-in-ipi-receivership\" target=\"_blank\">to intervene in Joshua Gray&#8217;s lawsuit against IPI<\/a>.\u00a0<\/p>\n\n\n\n<p>According to Mariana&#8217;s Variety, the transactions were recorded at the CNMI Recorder&#8217;s Office on December 21, 2022, and July 3, 2023. Century Estate agreed to extend two loans, one for US$9m and the other US$10m. IPI provided various assets as collateral.<\/p>\n\n\n\n<p>It has been revealed that\u00a0Xu<strong>\u00a0<\/strong>was a member of IPI\u2019s board of executive directors. Due to this,\u00a0<strong>Joshua Gray\u00a0<\/strong>has\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/nmi-opposition-to-century-estates-participation-in-limited-receivership\" target=\"_blank\">filed an opposition<\/a>\u00a0to the intervention motion requested by the creditor of IPI. Gray, represented by attorneys Aaron Halegua and Bruce Berline, contends that Century Estate has not demonstrated a valid claim to intervene.<\/p>\n\n\n\n<p>The dispute is scheduled for a hearing before US District Court for the NMI\u00a0chief judge Ramona V. Manglona\u00a0on October 26.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Century Estate\u2019s director says the company provided US$19m.<\/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":"Century Estate Investment's director, Zhongxiang Xu, claims the company provided US$19 million in loans to IPI, secured by IPI's assets, and seeks to intervene in Joshua Gray's lawsuit against IPI. Gray opposes this intervention, citing Xu's prior board membership at IPI as a conflict of interest. The federal court in the Northern Mariana Islands is scheduled to hear the intervention motion.","focusai_entities":"Century Estate Investment, Zhongxiang Xu, IPI, Joshua Gray, Mariana\u2019s Variety, Aaron Halegua, Bruce Berline, US District Court for the NMI, Ramona V. Manglona","focusai_location":"Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Loan Terms & Collateral?","query":"What are the specific terms and conditions of the US$19 million loans, and what assets of IPI are precisely pledged as collateral?"},{"label":"Xu's Dual Role Impact?","query":"How does Zhongxiang Xu's prior board membership at IPI impact the legal standing of Century Estate's intervention motion, particularly concerning fiduciary duties and conflict of interest regulations?"}],"footnotes":""},"categories":[16336,439],"tags":[24134],"class_list":["post-777010093","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\/777010093","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=777010093"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010093\/revisions"}],"predecessor-version":[{"id":777041160,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010093\/revisions\/777041160"}],"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=777010093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}