{"id":777020133,"date":"2024-10-24T10:52:58","date_gmt":"2024-10-24T13:52:58","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020133"},"modified":"2026-04-22T04:52:26","modified_gmt":"2026-04-22T07:52:26","slug":"cnmi-chief-judge-recuses-herself-from-ipi-bankruptcy-case-due-to-conflict-of-interest","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/cnmi-chief-judge-recuses-herself-from-ipi-bankruptcy-case-due-to-conflict-of-interest","title":{"rendered":"CNMI chief judge recuses herself from IPI bankruptcy case due to conflict of interest"},"content":{"rendered":"\n<p>Chief Bankruptcy Judge Robert J. Faris from the District of Hawaii has been appointed to preside over the matter.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Northern Mariana Islands.- Chief judge\u00a0<strong>Ramona V. Manglona<\/strong> of the District Court for the NMI\u00a0has recused herself from presiding over Imperial Pacific International (IPI)\u2019s bankruptcy proceedings due to a conflict of interest after her brother-in-law, <a href=\"https:\/\/focusgn.com\/asia-pacific\/commonwealth-casino-commission-rota-residents-back-thomas-manglonas-nomination\" target=\"_blank\" rel=\"noreferrer noopener\">Thomas A. Manglona<\/a>, was confirmed<strong>\u00a0<\/strong>as a member of the Commonwealth Casino Commission (CCC). District by Ninth Circuit Court of Appeals chief judge <strong>Mary Murguia <\/strong>has appointed chief bankruptcy judge <strong>Robert J. Faris<\/strong> from the District of Hawaii in her place.<\/p>\n\n\n\n<p>A former port manager in Rota, Thomas Manglona<strong>\u00a0<\/strong>was nominated to join the CCC by governor\u00a0<strong>Arnold I. Palacios<\/strong> a month ago. He filled the seat vacated by Martin Mendiola,\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/terms-of-2-ccc-commissioners-expire-this-month\" target=\"_blank\" rel=\"noreferrer noopener\">whose term ended on April 30<\/a>.<\/p>\n\n\n\n<p>In an interview with The Saipan Tribune, the new members of the regulator said: &#8220;I look forward to working with the other commissioners to move forward through the many issues we are currently facing. With a lot of collaboration and communication with stakeholders, I think we can move forward. First, I have to sit down with all of the members to discuss what issues we have to tackle first.&#8221;<\/p>\n\n\n\n<p>The addition of a new member establishes quorum, enabling the CCC to address revocation proceedings against IPI. Before Manglona&#8217;s confirmation, the CCC had two commissioners and one chair, but three commissioners were required to establish a quorum. Deleon Guerrero\u00a0has recused himself from proceedings to serve as an advocate for the petitioner, CCC executive director\u00a0<strong>Andrew Yeom,\u00a0<\/strong>who filed a complaint against IPI for its failure to pay the casino licence and regulatory fees. <\/p>\n\n\n\n<p>The CCC needs the federal court to lift the automatic stay on the revocation hearing following the\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-files-for-bankruptcy\" target=\"_blank\" rel=\"noreferrer noopener\">Chapter 11 bankruptcy petition<\/a>\u00a0filed by IPI earlier this year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Court rejects IPI assets sale plan<\/h2>\n\n\n\n<p>Chief judge&nbsp;<strong>Ramona V. Manglona<\/strong> denied IPI\u2019s bid to&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-aims-to-sell-hotel-casino-and-other-assets\" rel=\"noreferrer noopener\">sell its unfinished Garapan hotel casino and real estate assets<\/a>. Manglona also turned down IPI\u2019s request to employ Keen-Summit Capital Partners to promote IPI\u2019s property.<\/p>\n\n\n\n<p>Instead, the judge granted IPI creditors\u2019 request to engage Intrepid Investment Bankers to<strong>&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ipi-creditors-seek-holistic-approach-to-assets-sale\" rel=\"noreferrer noopener\">market IPI\u2019s properties as a holistic business<\/a> rather than real estate property. The committee had said Intrepid could be able to identify potential buyers that the previous limited marketing process had overlooked.<\/p>\n\n\n\n<p>According to The Saipan Tribune, creditors said that if the approach does not succeed, IPI can proceed with a real estate sale using the proposed real estate broker.<\/p>\n\n\n\n<p>IPI\u2019s main real estate assets include a hotel building that is currently under construction with a casino, a leasehold interest in around 19,204 square meters of land leased from the Department of Public Lands (DPL) under Lease Agreement No. LA-15-002S, and IPI\u2019s ownership interest in Imperial Pacific Properties, which holds a leasehold interest in eight lots adjacent to the leasehold property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chief Bankruptcy Judge Robert J. Faris from the District of Hawaii has been appointed to preside over the matter.<\/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":"Chief Judge Ramona V. Manglona recused herself from Imperial Pacific International's (IPI) bankruptcy proceedings due to a conflict of interest, leading to the appointment of Chief Bankruptcy Judge Robert J. Faris. Concurrently, a new member's appointment to the Commonwealth Casino Commission (CCC) establishes quorum, enabling the regulator to pursue IPI's license revocation, pending the lifting of an automatic stay. The court also rejected IPI's plan to sell assets as real estate, instead approving creditors' proposal to market IPI as a holistic business.","focusai_entities":"Imperial Pacific International, IPI, Commonwealth Casino Commission, CCC, Robert J. Faris, Ramona V. Manglona, Thomas A. Manglona, Arnold I. Palacios, Martin Mendiola, Andrew Yeom, Keen-Summit Capital Partners, Intrepid Investment Bankers, Department of Public Lands, DPL, Imperial Pacific Properties, District of Hawaii, District Court for the NMI, Ninth Circuit Court of Appeals, The Saipan Tribune","focusai_location":"Northern Mariana Islands, Hawaii, Rota, Saipan, Garapan","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IPI Asset Valuation","query":"What are the specific valuation methodologies Intrepid Investment Bankers will employ to market IPI as a holistic business, and how might this impact potential buyer profiles compared to a pure real estate sale?"},{"label":"CCC Regulatory Authority","query":"How will the federal court's decision regarding the automatic stay on IPI's Chapter 11 proceedings influence the Commonwealth Casino Commission's timeline and legal strategy for license revocation?"}],"footnotes":""},"categories":[16336,163],"tags":[24134],"class_list":["post-777020133","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\/777020133","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=777020133"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020133\/revisions"}],"predecessor-version":[{"id":777020145,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020133\/revisions\/777020145"}],"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=777020133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}