IMPERIAL Pacific International said it is now current with its payroll.
IPI, which did not provide additional information, has a total of 10 employees including six security guards.
In an earlier update, IPI stated that three previous payrolls were still “outstanding for a number of people” due to insufficient funds.
The Commonwealth Casino Commission and the CNMI Department of Labor make regular inquiries about IPI’s payroll status.
Recently, CCC asked the Superior Court to enforce IPI’s casino license suspension. Based on the complaint, any settlement agreement with CCC will require significant funding from the casino developer.
The commission has also requested the court to issue an order finding that IPI did not comply with Commission Order 2021-002, and that $25,252,570 is now due in full with interest.
Variety learned that IPI has been “aggressively seeking investors to raise more capital, settle with creditors and CCC, and reopen as early as possible.”
As of Tuesday, there was no update about the South Korean IH Group’s plan to provide IPI with $150 million in capital.
