Imperial Pacific International appears in court over mountains of rubbish
Imperial Pacific International's (IPI) bills continue to pile up. The Saipan Palace Casino is nearly beyond repair and the company ignored mountains of construction debris, and a court now wants to know how the company should fix the problem.
IPI avoided paying Tang’s Corp., the company it hired to manage construction waste. This resulted in court rulings that ignored IPI.
According to Marianas Variety, IPI must appear in court shortly before Christmas to explain its case. With the scheduled date being December 21st, IPI has plenty of time to come up with another excuse.
IPI originally hired Down in 2016 to dispose of construction waste. The agreement stipulates that the company will store it for further disposal at a local landfill, which will be taken over by IPI.
However, this did not happen and Tang filed a lawsuit in court. It received a judgment for just under $80,000, plus interest. In addition, IPI received a judgment of $191,070.56 to cover fees and other costs it would have paid to the Department of Public Lands.
When the company again failed to clarify the matter, Tang went to court again. On November 7, the judge ordered a hearing on the case and set the hearing date for December 21.
IPI may be on the verge of permanently losing its Saipan casino license, but has yet to comment on the matter.
LOSING ANOTHER LAWYER
IPI has a history of destroying law firms, some of which decided not to represent the company anymore because they had never been paid. It's about to lose another piece of business, although a judge won't let the company go bankrupt just yet.
Marianas Variety The San Nicolas law firm reportedly wants to terminate its employment as IPI counsel in the Tang case for unknown reasons. The only information available is that these are "professional considerations".
The judge rejected the law firm's request to dismiss the case. This is not a final decision as the judge said the request "has not yet been granted." However, IPI is now represented by a law firm that does not want to be involved in its ongoing problems.
The National Palace Museum has a large inventory of receivers
Courts in the Commonwealth of the Northern Mariana Islands (CNMI) have repeatedly approved the seizure of palace assets to repay IPI's debts. IPI owed tens of millions of dollars to the government and private companies, leading to receivership and a series of asset auctions.
The latest court approval relates to former manager Joshua Gray, who won more than $5.6 million in a discrimination lawsuit. When IPI failed to pay, the court allowed liquidator Clear Management Ltd. to take possession of the casino's wine cellar and other assets.
Asset inventory has become a major task, which is why Clear Management is asking for more time to complete the process. It's a delicate process as the company announced that the vault contained pricey Scotch whiskey and Louis XIII Le Methuselah cognac, among others. The cognac sells for about $100,000.
Clear Management also said that most of the gaming equipment that could be included in bankruptcy protection has all but disappeared. The auction is now focused on cars, limousines, restaurant and kitchen equipment, grand pianos, works of art and the Forbidden City's famous crystal dragon.
When the judge granted the extension, he gave the government until Dec. 6 to submit a supplementary list.
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Source: www.casino.org
