A federal court in the United States has ordered a unit of casino promoter Imperial Pacific International Holdings Ltd to sell its vehicles and gaming machines, in order to settle a nearly US$2.1-million debt to a former contractor. The writ of execution was issued against the group’s operating unit Imperial Pacific International LLC, at the request of USA Fanter Corp Ltd, reported the Marianas Variety newspaper.
Hong Kong-listed Imperial Pacific is the developer and operator of the still-under-construction property Imperial Palace Saipan (pictured in a file photo) on Saipan, in the Commonwealth of the Northern Mariana Islands (CNMI), a United States jurisdiction.
According to the news report, Chief Judge Ramona V. Manglona of the District Court for the Northern Mariana Islands, ordered the casino firm to maintain the registration, insurance, and maintenance of all the vehicles and casino gaming machines subject to the execution of the writ.
USA Fanter had sued the casino promoter for what it said was the latter company’s “failure to fully pay the full amount due under the construction contract for labour and material” provided for the improvement of Imperial Pacific’s property.
The lawsuit stated that the Imperial Pacific group had only paid USA Fanter US$300,000, and the unpaid balance due was just below US$2.1 million.
Imperial Pacific confirmed in April that its casino licence for Saipan had been suspended, and that its local operating unit had been ordered to pay outstanding fees amounting to US$18.6 million, and a fine of US$6.6 million.
