Creditors of Imperial Pacific International (CNMI), LLC will soon begin voting on the former casino operator’s proposed Chapter 11 liquidation plan, after attorneys for the debtor and the Official Committee of General Unsecured Creditors filed a joint motion seeking court approval of balloting procedures.
The motion, filed on Nov. 15, 2025, asks the U.S. Bankruptcy Court for the Northern Mariana Islands to approve the disclosure statement for the liquidation plan dated Oct. 31, 2025, and to authorize the distribution of solicitation packages to creditors. Those packages will include the plan, disclosure statement, notice of the confirmation hearing, and ballots for eligible voting classes.
Under the plan, only impaired creditors are entitled to vote. These include holders of other secured claims and general unsecured claims, such as the Commonwealth Casino Commission, the Commonwealth Treasurer, and creditors Joshua Gray, USA Fanter Corp., and attorney Michael W. Dotts. Priority non-tax claims and certain secured claims already satisfied are unimpaired and will not vote.
Ballots must be submitted to Verita Global, the court-appointed ballot tabulator, no later than 14 days before the confirmation hearing. Objections to the plan must also be filed by that deadline. The hearing itself will be scheduled before U.S. Bankruptcy Judge Robert J. Faris in Saipan.
The liquidation plan, if confirmed, would finalize the wind-down of the company’s operations and distribute remaining assets through a liquidating trust.
IPI operated a casino in Saipan for four years before closing in March 2020 due to the COVID-19 pandemic. The company filed for Chapter 11 bankruptcy on April 19, 2024, citing more than $165.8 million in liabilities.
Team King Investment (CNMI) LLC won the bid for IPI’s casino assets during a court-approved auction held on Feb. 26, 2025. Judge Faris approved the sale on April 29, 2025, after resolving creditor objections.
