IMPERIAL Pacific International Executive Director Howyo Chi on Friday hand-delivered to the Office of the Governor a letter requesting Gov. Arnold I. Palacios to set a date and time for a “meet and confer” to discuss the dispute over the unpaid exclusive casino license fee.
Chi cited Article 30 (c) of the casino license agreement allowing IPI and the CNMI government to hold a “meet and confer” session within 10 working days from the date of the presentation of a formal dispute. The meet and confer session, according to the agreement, intends “to provide a forum for both parties to seek resolution in good faith.”
Chi said on Aug. 13, 2024, he personally delivered a copy of IPI’s presentation on the dispute.
He said the governor’s response dated Aug. 20, 2024 indicated that representatives of the government were prepared to meet and confer with IPI to discuss the issues outlined in its presentation.
However, Chi said, “no meeting has yet been scheduled or confirmed with IPI.”
Consistent with the “cooperative spirit underscored in Article 30” of the casino license agreement, Chi said he told the governor that IPI “respectfully requests that a date and time for this meeting be confirmed at the earliest opportunity.”
“Our objective is to engage in constructive dialogue with the Commonwealth to clarify our position regarding the financial obligations under the [casino license agreement] during the license suspension period. We appreciate your attention to this matter and look forward to working collaboratively toward a resolution. Please let us know your availability for this meeting or any alternative dates that may be convenient,” Chi said.
IPI filed for Chapter 11 bankruptcy in the District Court for the NMI on April 19, 2024, saying it owed creditors over $165.8 million.
IPI operated a casino on Saipan for four years until the Covid-19 pandemic forced its closure in March 2020.
Chapter 11 bankruptcy allows a business corporation to restructure its debts and continue operating.
