Saipan casino biz Imp Pacific HK shares delisted June 17

Jun 12, 2024 Newsdesk Latest News, Top of the deck, World  

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The Hong Kong listing of shares in Imperial Pacific International Holdings Ltd, an investor in a suspended casino operation in the United States jurisdiction of Saipan (pictured in a file photo), will cease at 9am on June 17.

The delisting was confirmed in a Tuesday filing made in the name of the official receiver and provisional liquidator of Imperial Pacific.

Hong Kong trading in the shares of Imperial Pacific has been suspended since April 1, 2022.

In April the High Court in Hong Kong ordered the winding up of Imperial Pacific International Holdings and appointment of a provisional liquidator.

A winding-up petition had been filed in September last year for alleged failure by Imperial Pacific to settle a “judgment amount” of just above HKD20.83 million (US$2.7 million), together with interest and cost.

Tuesday’s filing mentioned that judicial review proceedings had been discontinued under a May 30 order of the High Court.

A February request for a delay in delisting had asked for a judicial review on the matter.

The Hong Kong company has, via its unit Imperial Pacific International (CNMI) LLP, a casino licence for Saipan, though that has been suspended since 2021 and the regulator is currently seeking the revocation of the permit.

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