DAC Investment Management (China) Limited has sued Imperial Pacific International in federal court for non-payment of software and other services in the amount of $278,719.06.
DAC, through attorney Michael White, said under an agreement between IGT Asia Pte Ltd. and IPI that was signed on Nov. 18, 2016, IGT was to provide software and various other services to the casino operator.
In turn, IPI agreed to make certain payments to IGT. But “IPI failed to do so, leaving IGT with an unpaid claim against IPI,” White said.
On March 19, 2024, IGT entered into a debt purchase agreement with DAC, pursuant to which IGT sold and transferred to DAC all of IGT’s right, title, and interest in its claim against IPI.
“DAC now seeks to recover from IPI the principal sum of $278,719.06, together with interest and attorney’s fees,” White said.
