Vehicles and electronic gaming machines owned by Saipan casino operator Imperial Pacific International (CNMI) LLC are to be sold in order to repay a US$2.1 million debt to a former contractor.
As reported by Marianas Variety, the federal court has granted a request by construction firm USA Fanter Corp Ltd to issue a writ of execution against IPI for failure to pay US$2.1 million owing on work it completed at Imperial Palace · Saipan.
Under the terms of the judgement, IPI has been ordered to maintain all vehicles and gaming machines and ensure they are up to date with registration and insurance until sold.
“All vehicles and gaming machines shall be stored either in the underground parking lot of IPI’s hotel-casino complex in Garapan, Saipan or in IPI’s housing in Chinatown, Saipan,” said Chief Judge Ramona V. Manglona of the District Court for the NMI.
USA Fanter had requested the writ of execution in June after IPI failed to respond to a February judgement in favor of the construction firm. IPI had been given 30 days to make payment but failed to do so.
The value of IPI’s vehicles and gaming machines has been estimated at around US$3.2 million.
IPI, which reported a loss of US$367 million in 2020, recently filed an administrative request for the Superior Court in Saipan to conduct a judicial review into the indefinite suspension of its casino license by the Commonwealth Casino Commission (CCC) of the Northern Mariana Islands. The casino at Imperial Palace · Saipan had been closed since March 2020 due to COVID-19.