CHIEF Judge Ramona V. Manglona of the District Court for the NMI ordered Thompson Law Office LLC to promptly release the amount of $251,581.44 from its Client Trust Account to USA Fanter Corporation Ltd.
Based on the parties’ stipulation, the judge issued on July 28 an entry of an amended judgment to include $251,581.44 and acknowledge the full satisfaction of the amended judgment amount of $2,340,926.72.
USA Fanter sued Imperial Pacific International LLC 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.
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.
On May 26, 2021, the court entered an amended judgment in favor of USA Fanter, and against IPI, in the amount of $2,089,345.28, plus pre- and post-judgment interest, and costs.
On Jan. 4, 2022, the court issued an order staying the judgment, based on IPI posting an appeal bond in the amount of $2,450,000 to secure the judgment pending its appeal to the U.S. Court of Appeals for the Ninth Circuit.
On Dec. 7, 2022, the district court ordered the release of the appeal bond to Thompson Law LLC’s Client Trust Account.
USA Fanter, for its part, asked the Ninth Circuit for an award of attorney’s fees and costs in connection with IPI’s appeal.
USA Fanter also informed IPI that the plaintiff would assert additional claims for attorney’s fees, costs, and post-judgment interest. IPI said it would also assert claims for attorney’s fees before the court.
On July 19, 2023, the parties entered a settlement agreement.
They agreed to fully and finally resolve the case, including all amounts due or claimed pursuant to the amended judgment, any pending or potential petitions for attorney’s fees, costs, or interest in the case in consideration of a final payment in the amount of $251,581.44, which was tendered in payment to USA Fanter’s counsel.
According to the stipulation, “While the Parties acknowledge that, due to the establishment of the Limited Receivership, the court may not wish to close this case, all claims made by USA Fanter in this case have been satisfied.”
IPI was represented by attorney Samuel Salyer while USA Fanter was represented by attorney Collin Thompsom.
