The US Federal Court ordered that Imperial Pacific International (IPI) casino gaming vehicles and machines be seized and sold to cover the company’s $2 million debt.
The execution order was issued by the court at the request of the USA Fanter Corp. Ltd. The court also ordered the IPI to maintain registration, insurance and maintenance of the equipment.
“All vehicles and gaming machines must be stored in the underground parking lot at IPI’s hotel-casino complex in Garapan, Saipan, or at IPI’s accommodation in Chinatown, Saipan,” said Chief Judge Ramona V. Manglona.
US Fanter alleges that the company violated the contract and did not pay for labor and materials. According to the lawsuit, the company only paid Fanter USA US$300,000, leaving more than US$2m as an unpaid balance.
Earlier this year, IPI lost its Saipan casino license due to outstanding debts. The casino operator said it was trying its best to meet the fees, but maintained that the company’s Saipan Palace Imperial casino has been closed since March 2020. The outstanding debt of the local operating unit stands at $18.6 million, with $6, An additional 6 million in fines.
In May, the federal court awarded $5.9 million in damages to seven Chinese construction workers who sued IPI for violations and irregularities at work.
They are also seeking permission to auction off the company’s assets to collect the money owed. Possible assets would include hardware, mobile devices and computer equipment, motor vehicles, casino gaming machines and two of IPI’s crystal dragons. The IPI still has to make a single payment to the plaintiffs.
About IPI
Imperial Pacific International is a Chinese investment company. It was founded in Hong Kong and originally named “First Natural Foods Holdings” until being renamed in May 2014.