{"id":777014764,"date":"2024-04-16T09:43:03","date_gmt":"2024-04-16T12:43:03","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777014764"},"modified":"2026-04-22T11:08:19","modified_gmt":"2026-04-22T14:08:19","slug":"clear-management-concludes-auction-of-ipi-vehicles","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/clear-management-concludes-auction-of-ipi-vehicles","title":{"rendered":"Clear Management concludes auction of IPI vehicles"},"content":{"rendered":"\n<p>Two crystal dragons have also drawn interest.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.- Court-appointed receiver<strong>\u00a0Clear Management<\/strong>\u00a0has reported that it has sold all 11 luxury vehicles belonging to casino operator\u00a0<strong>Imperial Pacific International (IPI)\u00a0<\/strong>as part of\u00a0its latest <a href=\"https:\/\/focusgn.com\/asia-pacific\/clear-management-to-sell-vehicles-and-dragons-in-latest-ipi-auction\" target=\"_blank\" rel=\"noreferrer noopener\">auction.<\/a>  Principal<strong> Tim Shepherd<\/strong> said all vehicles were sold for prices above their reserves.<\/p>\n\n\n\n<p>He also said that the receiver had received interest from parties in Dubai and Saudi Arabia in the two crystal dragons\u00a0that adorned the Imperial Palace Saipan lobby with over 2.5 million Swarovski crystals. The deadline for bids is August 22 and the initial bidding price US$500,000. A forthcoming auction scheduled for June 6 includes VIP passenger vans and construction equipment.\u00a0<\/p>\n\n\n\n<p>On Friday (April 11), the\u00a0<strong>Commonwealth Casino Commission (CCC)\u00a0<\/strong>granted a 10-day extension for negotiations with\u00a0<strong>IPI\u00a0<\/strong>as it seeks to finalise\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/ccc-grants-10-days-to-seal-settlement-agreement-with-ipi\" target=\"_blank\" rel=\"noreferrer noopener\">a settlement agreement<\/a>. Executive director<strong> Andrew Yeom\u00a0<\/strong>said the parties were negotiating the terms of the proposed settlement agreement under which IPI would pay US$24m this year. This includes a US$3.1m payment for its 2020 regulatory fee by April 22.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two crystal dragons have also drawn interest.<\/p>\n","protected":false},"author":176,"featured_media":26704,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Court-appointed receiver Clear Management has successfully auctioned all 11 luxury vehicles belonging to Imperial Pacific International (IPI) and is fielding international interest for two crystal dragons from the Imperial Palace Saipan. Concurrently, the Commonwealth Casino Commission (CCC) granted IPI a 10-day extension to finalize a settlement agreement, which includes a US$24 million payment this year, with US$3.1 million allocated for its 2020 regulatory fee.","focusai_entities":"Clear Management, Imperial Pacific International (IPI), Tim Shepherd, Commonwealth Casino Commission (CCC), Andrew Yeom, Imperial Palace Saipan","focusai_location":"Northern Mariana Islands, Saipan, Dubai, Saudi Arabia","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (0.85), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[{"label":"IPI Settlement Impact","query":"What are the specific terms and conditions of the proposed US$24 million settlement agreement between IPI and the CCC, and how will this impact IPI's long-term financial restructuring and operational viability?"},{"label":"Asset Liquidation Strategy","query":"Beyond the current asset sales, what is Clear Management's comprehensive strategy for liquidating IPI's remaining assets, and what is the projected recovery rate for creditors and stakeholders?"}],"footnotes":""},"categories":[16336,157],"tags":[24134],"class_list":["post-777014764","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\/777014764","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=777014764"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014764\/revisions"}],"predecessor-version":[{"id":777014785,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014764\/revisions\/777014785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26704"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}