CHIEF Judge Ramona V. Manglona of the District Court for the NMI has approved and granted Clear Management’s motion to approve the sale of Imperial Pacific International LLC’s gaming equipment in the total amount of $410,000.
At a hearing on Wednesday, Clear Management, the court-appointed receiver, through attorney Michael White, provided an update regarding the sale and asked the court to approve it.
The plaintiff, USA Fanter, through attorney Colin Thompson, joined and supported the motion for approval while IPI, through attorney Samuel Salyer, told the court that his client had no position as to the reasonableness of the amount.
But Salyer requested a report on the outstanding amounts of unsatisfied judgments against IPI before the sales are confirmed.
He requested that the court refrain from confirming the sale until IPI’s appeal has been decided.
Judge Manglona ordered the receiver to file an interim report no later than Nov. 17, 2022 to show the list of creditors known to the receiver.
She informed the parties that a deposit will be made into the trust account, and that an expense report shall be filed by the receiver.
The judge also addressed the CNMI Department of Finance-Division of Revenue and Taxation’s motion to participate in the receivership.
CNMI Assistant Attorney General Dustin Rollins informed the court that the Commonwealth intends to pursue its rights regarding tax liens.
Previously, the CNMI government said IPI owed tax in the amounts of $9,416,887.09, $176,880.70 and $812,048.09.
These amounts do not include any additional penalties, interest, and costs that may have accrued since the time the notices of tax liens were filed, Rollins said.
IPI’s attorney did not oppose the CNMI’s motion to participate, but requested to reserve the right to object.
Judge Manglona allowed IPI to file an objection on shortened time no later than Nov. 17, 2022.
As for IPI’s oral motion to stay the receivership, the judge denied it.
In related news, the U.S. Court of Appeals for the Ninth Circuit has denied IPI’s emergency motion for a stay pending appeal.
IPI has appealed the District Court’s ruling denying IPI and some judgment creditors’ motion to stay the limited receivership.
IPI, the plaintiffs in Wang et al. v. Gold Mantis Construction Decoration (CNMI) LLC, the plaintiffs in Genc et al. v. Imperial Pacific International (CNMI) LLC, and N15 Architecture have jointly stipulated and requested the federal court to enter an order staying the limited receivership established by the court.
IPI said the limited receivership should be dissolved because it has already reached settlements and made full payments to each judgment creditor.
