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Last updateTue, 22 Oct 2019 12am







    Sunday, October 20, 2019-9:44:34A.M.






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Judge stops release of IPI financial information

SUPERIOR Court Judge Kenneth Govendo has issued a temporary restraining order blocking the Commonwealth Casino Commission’s public release of the Imperial Pacific International’s financial information.

In issuing IPI’s motion on Monday, the judge said the company is facing “injury” given the deadline for the disclosure of its financial information.

“This injury is irreparable, and no monetary award will make plaintiff whole once the information is released,” the judge said, adding that CCC would not suffer harm if the information was not released.

The TRO was issued by the judge on June 24, 2019 at 3:45 p.m. It will expire on July 9. The judge scheduled a hearing for the same day at 9 a.m.

On June 13, 2019, the casino commission notified IPI that an Open Government Act request was received by CCC seeking information concerning IPI’s audited financial statement, business gross revenue tax payments, and corporate income tax payments.

CCC said the attorney general issued an opinion stating that CCC could disclose the information. But the commission said it could not provide IPI a copy of the AG’s opinion because it was confidential

IPI was informed that CCC would disclose the information on Monday, June 23, 2019, the 10th calendar day after June 13, 2019.

On Monday, a copy of an audit report from Ernst & Young regarding IPI’s finances in 2017 and 2018 was submitted by House Minority Leader Edwin Propst to the House during the miscellaneous part of its session that started at 10 a.m. Copies were also provided to the media.

IPI, represented by attorney Viola Alepuyo, filed its TRO petition in court at 9 a.m.

IPI wants the court to order the CCC executive director and any person subject to the executive director’s control and authority not to disclose IPI’s confidential tax return information.

IPI is also seeking cost of suit and any other relief the court deems just and proper.