THE administration will again urge the court to name Oscar C. Camacho as Bank of Saipan’s new receiver, Attorney General Robert T. Torres said.
“The administration…reaffirms its commitment and suggestion to the court to appoint…Camacho as the most competent, experienced and qualified person to be the receiver for Bank of Saipan,” Torres said.
The Superior Court has scheduled a 10 a.m. status conference today.
This hearing was temporarily shelved following the bank’s filing of a motion to remove Presiding Judge Edward Manibusan from the case. The motion was denied by Judge Juan T. Lizama.
Camacho, according to Torres, is willing to fulfill the duties and responsibilities of the bank receiver, which include the implementation of a rehabilitation plan.
The court named Randall Fennell as the bank’s temporary receiver on April 30.
Fennell was lauded by the administration for “taking over a situation that has proven to be very difficult” to the point that his “integrity has been assaulted and challenged.”
Fennell worked under the direction of the court for the best interest of the bank, Torres said.
