THE Commonwealth Casino Commission will continue to monitor the ongoing auctions of Imperial Pacific International’s gaming assets.
During a meeting on Thursday, Commission Vice Chairman Ralph S. Demapan informed Chairman Edward C. Deleon Guerrero and the other commissioners that CCC is working closely with the IPI security guards because the commission still has interest in some of the gaming assets that have the Commonwealth seal.
Demapan said the items being auctioned are gaming assets only at this point. The next auction, he said, will be conducted in June. He urged his fellow commissioners “to continue to visit and closely monitor the activity in terms of gaming matters.”
Deleon Guerrero said the commissioners need to find out who else from IPI is involved in these matters other than its security guards.
“Somebody from IPI must be able to track what gaming equipment is being sold. So that particular individual and us can reconcile what [the court-appointed receiver,] Clear Management is giving us in terms of what is being sold,” Deleon Guerrero said.
Demapan said based on his conversations with IPI’s security guards, Clear Management should know who from IPI is tasked to conduct an inventory.
He said anything that is being sold in auction will be itemized.
On Oct. 26, 2021, Chief Judge Ramona V. Manglona appointed Clear Management as receiver for the purpose of selling IPI’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.
