{"id":777011899,"date":"2023-12-14T08:44:06","date_gmt":"2023-12-14T11:44:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011899"},"modified":"2026-04-22T14:42:35","modified_gmt":"2026-04-22T17:42:35","slug":"ipi-creditors-pursue-over-us5m-in-unsettled-judgments","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ipi-creditors-pursue-over-us5m-in-unsettled-judgments","title":{"rendered":"IPI creditors pursue over US$5m in unsettled judgments"},"content":{"rendered":"\n<p>A coalition of creditors has lodged a joint writ of execution.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.- Several IPI creditors have lodged a joint writ of execution to\u00a0<strong>demand payment of unsatisfied judgments<\/strong>. The creditors are seeking to recover judgments totalling more than US$5m.<\/p>\n\n\n\n<p>USA Fanter, Fujitec Pacific, Hemine Ipwan Islam, GT Building Systems International, Artman and James Whang filed\u00a0the application at the<strong> US District Court for the Northern Mariana Islands (NMI)<\/strong>.\u00a0They seeks authorisation to\u00a0<strong>execute against various properties owned by IPI<\/strong>, including vehicles, liquor, crystal dragons, computer hardware, furniture and equipment and casino-related and security equipment.\u00a0<\/p>\n\n\n\n<p>According to the application, on March 20, 2023, the district court entered\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/usa-fanter-seeks-another-limited-receivership-against-ipi\" target=\"_blank\" rel=\"noreferrer noopener\">a judgment in favour of USA Fanter<\/a>\u00a0for US$500,000, plus post-judgment interest rates at 4.34 per cent per annum against IPI. On January 17, the U.S. District Court for the NMI also entered a judgment in favour of Artman in the amount of US$106,890 plus post-judgment interest.<\/p>\n\n\n\n<p>As for\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-ordered-to-pay-damages-to-south-pacific-lumber\" target=\"_blank\" rel=\"noreferrer noopener\">South Pacific Lumber<\/a>\u00a0(SPLC), the court entered a judgment for US$766,595.33 plus post-judgment interest at the rate of 5.39 per cent on Aug. 29. The court later granted an amended judgment on Oct. 25. Meanwhile, the Superior Court entered three judgments in favour of Fujitec.  The Superior Court entered a judgment in favour of IPWAN on December 13, 2022. As for GT Building, the Superior Court entered a judgment on March 9, 2022.<\/p>\n\n\n\n<p><strong>See also:<\/strong>&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-sues-ccc-for-alleged-breach-of-casino-licence-agreement\" rel=\"noreferrer noopener\">IPI sues CCC for alleged breach of casino licence agreement<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A coalition of creditors has lodged a joint writ of execution.<\/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":"A coalition of creditors has filed a joint writ of execution in the US District Court for the Northern Mariana Islands, seeking to recover over US$5m in unsatisfied judgments against IPI. The application targets various IPI assets, including vehicles, casino equipment, and computer hardware, to satisfy multiple court judgments from 2022 and 2023. This action underscores significant financial distress and operational challenges for the casino operator.","focusai_entities":"IPI, USA Fanter, Fujitec Pacific, Hemine Ipwan Islam, GT Building Systems International, Artman, James Whang, South Pacific Lumber, IPWAN","focusai_location":"Northern Mariana Islands","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.95), operator_casino (0.85), investor_analyst (0.95), supplier_vendor (0.9), journalist_researcher (0.85)","focusai_suggestions":[{"label":"IPI's Operational Viability?","query":"What is the projected impact of these asset seizures on IPI's ongoing operational viability and its ability to maintain its casino license in the Northern Mariana Islands?"},{"label":"Regulatory Response Expected?","query":"Given the scale of these judgments and the enforcement actions, what regulatory responses or interventions are anticipated from the NMI Commonwealth Casino Commission regarding IPI's compliance and financial standing?"}],"footnotes":""},"categories":[16336,163],"tags":[24134],"class_list":["post-777011899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-imperial-pacific-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011899","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=777011899"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011899\/revisions"}],"predecessor-version":[{"id":777011913,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011899\/revisions\/777011913"}],"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=777011899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}