HONG Kong-based Imperial Pacific Holdings Limited will send about $180,000 to IPI LLC on Saipan so the latter can pay outstanding show-cause order amounts, among other things, IPI LLC chief executive officer Ray N. Yumul said.
“We received notification from IPI’s parent company in Hong Kong that a wire [transfer] is in the works and will be remitted to IPI-CNMI,” he added.
He said IPI Holdings is aware of all the court orders “and the amounts that are past due and that need to be current.”
“They are sending an amount that should cover the cases that are in the status of order-to-show-cause,” he added.
“We should be able to pay the Yuqin Gui case, the Equal Employment Opportunity Commission case, the Xerox Company lawsuit, and Banes Horey Berman & Miller law firm lawsuit,” Yumul said.
“About $180,000 [is] being made available to pay some cases,” he added. “They will officially notify me of the final amount. I am expecting no less than $180,000 to settle pending order-to-show-cause amounts, and other IPI expenses including payroll.”
Ray N. Yumul
