IF Imperial Pacific International LLC and the U.S. Department of Labor reach an agreement, there will be no need to go into receivership, IPI attorney Michael Dotts told Variety.
On Friday, Judge Ramona V. Manglona of the District Court for the NMI extended the effective date of IPI receivership for another four days — from March 19 to March 23 — following a stipulated request from IPI and USDOL.
“The parties have been communicating with each other,” Dotts said.
According to the stipulation, “Wage and Hour investigators have been examining the payroll documents provided by IPI but require more time to determine the amount of wages due. Counsels have been working diligently on a resolution including cooperating on identifying security for the judgment, but the parties need more time to complete their negotiations and finalize documents.”
Judge Manglona has instructed court-appointed receiver Joyce Tang not to take any action concerning the sale of assets until March 23, Tuesday, at 1:30 P.M to allow parties more time to reach an agreement.
“All other terms and provisions of the order remain unchanged,” added the judge.
Judge Manglona earlier ordered IPI and IPI chairwoman Cui Li Jie to purge their contempt of court by, among other things, paying $1,182,793 owed as back wages under the 2019 consent judgment.
If the defendants fail to comply, the judge said the court-appointed receiver will “perform all acts deemed necessary to comply with this order.”
