CHIEF Judge Ramona V. Manglona of the District Court for the NMI has granted the request of Clear Management Limited, the court-appointed receiver, for an order authorizing and directing payment of commissions due to the receiver in the amount of $21,056.20.
“The court authorizes and directs the disbursement of that sum from the Law Offices of Michael A. White LLC Escrow Trust Account to Clear Management Ltd,” Judge Manglona said in her order.
The judge also vacated the hearing scheduled for June 20.
In its request, the receiver, through attorney Michael White, said, “In its order of May 1, 2023, the court approved the receiver’s report and account of fourth auction. The total value of the successful bids received at the fourth auction was $225, 812.”
He said a total of $184,062 has been received and that one of the bidders, David Albanese, still has not paid $41,750 out of his purchases of $70,975.
White said Clear Management also sold playing cards to Angel Playing Card or APC company.
“APC paid a deposit of $26,500, based on an estimate of the number of playing cards available,” he added. “When the final number had been determined, APC paid an additional $607.20. Previously, Clear Management received a commission on the payment of $607.20 but never applied for or received a commission on the original deposit of $26,500.”
Adding the $184,062 in actual sales receipts from auction four, together with the $26,500 received from Angel Playing Cards, the total amount upon which a sales commission requested is $210,562, White said.
“Clear Management is entitled to 10% of this sum, or $21, 056.20,” he added.
On October 26, 2021, Judge Manglona appointed Clear Management as receiver for the purpose of selling Imperial Pacific International LLC’s gaming equipment to satisfy a judgment awarded to USA Fanter Corporation Ltd.
USA Fanter sued IPI for its 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.
The lawsuit stated that IPI had paid USA Fanter $300,000 only and the unpaid balance due was not less than $2,089,345.28.
The judge issued a final judgment in favor of USA Fanter.
