USA Fanter Corp. is asking the Commonwealth Casino Commission to include in its proceedings the enforcement action pertaining to IPI’s outstanding obligation to private entities.
USA Fanter successfully sued IPI for failure to pay the full amount due to the plaintiff under their construction contract for labor and materials provided for the improvement of IPI’s real property in Garapan.
Citing Commission Order No. 2020-004 requiring IPI to “immediately pay any outstanding obligation to any private entity if so ordered by a court of competent jurisdiction,” USA Fanter President Guocao Qian said USA Fanter has been awarded a total of $726,127 plus post-judgment interest.
Qian told the commission that the sale of the remaining IPI assets “will be insufficient to satisfy [all the] judgment creditors.”
He said USA Fanter is asking the commissioners to “honor” the statements of its Order No. 2020-004, “and that any settlement with IPI that would allow the lifting of the exclusive license suspension inclusive of its (license) sale and/or transfer would also include payment of any outstanding obligation to any private entity if so ordered by a court of competent jurisdiction prior to such lifting of the license suspension or as a condition of its (license) approved sale or transfer.”
According to documents submitted to the federal court, IPI owes judgment creditors in federal and local courts, including the tax lien held by the CNMI Division of Revenue and Taxation against it, a total of $21,108,568.71.
In addition, the commission has set a Dec. 30, 2023 deadline for IPI to pay the CNMI government over $62 million in annual exclusive casino license fee and $17.6 million in annual regulatory fee for the years 2020, 2021, 2022 and 2023.
