TO satisfy a judgment on behalf of Red Coral Corporation, doing business as Camille’s Gardenia, the U.S. Marshals Service has seized $9,386.66 from Imperial Pacific International LLC’s Bank of Saipan account through a writ of execution.
Bank of Saipan on Wednesday afternoon was served with the writ of execution issued by the District Court for the NMI, ordering the seizure of all of IPI’s monies deposited in their Bank of Saipan accounts, including but not limited to, checking account funds, savings account funds, private reserve account funds, CDs, cash, and currency in safety deposit boxes.
Bank of Saipan issued a cashier’s check to the U.S. Marshals Service payable to the District Court for the NMI Clerk of Courts.
On Friday last week, District Court for the NMI Magistrate Judge Heather Kennedy issued a notice of writ of execution against IPI to satisfy an outstanding $163,000 judgement and to allow the U.S. Marshals Service to seize funds the casino investor held at Bank of Saipan.
The federal court on Feb. 12, 2021 entered a civil judgement against IPI in the amount of $163,000.
Red Coral, represented by attorney Colin Thompson, sued IPI for not paying a lease agreement for a 20-unit apartment.
IPI failed to pay any rent to Red Coral for the months of January through August of 2019, Thompson said.
“IPI breached the lease agreement by failing to pay rent and destroying or taking furniture, fixtures, and other property belonging to Red Coral when it vacated the premises,” Thompson added.
He said IPI and Red Coral entered into a valid lease agreement that contained an arbitration clause requiring either party to arbitrate their disputes arising from the lease.
Red Coral had sent several demand letters as well as a demand to arbitrate, but “IPI has not responded to any of these demands,” Thompson said.
