RON Hodges, the court-appointed receiver of Fairyland LLC’s leasehold interest in Lot 019 D 61 and Lot 019 D 83 on Navy Hill, Saipan, has requested the federal court to approve the sale of the property.
Hodges filed a sealed receiver’s sale report in court and requested for a written approval of the auction sale that occurred on Feb. 15, 2022.
Chief Judge Ramona V. Manglona of the District Court for the NMI scheduled a hearing for March 4, 2022 at 1:30 p.m. and ordered the receiver and all parties to appear.
Fairyland, represented by the Dotts Law Office, was also ordered by the judge to serve a copy of the order and the receiver’s report to all its creditors pursuant to LR 63.1(g) to provide notice of the receiver’s petition for confirmation of sale.
Judge Manglona denied Fairyland’s motion to stay auction.
On April 13, 2021, a default judgment was entered in favor of the plaintiff, Peace & Order Trading Corporation, against Fairyland in the principal amount of $767,697.50, plus attorney’s fees and costs, and post-judgment interest at the applicable federal interest rate.
Peace & Order was hired by Fairyland to remodel and build an apartment building on Navy Hill, Saipan.
Peace & Order later sued Fairyland for breach of construction contract and unjust enrichment.
On Sept. 29, 2021, the federal court granted Peace & Order’s second motion for the appointment of a receiver, and appointed Ron Hodges as receiver.
The court subsequently issued an order setting out the terms of the receivership for the auction of Fairyland’s leasehold interest in Lot 019 D 61 and Lot 019 D 83 on Navy Hill, Saipan.
