CLEAR Management, Ltd. the court-appointed receiver, through attorney Michael White, has asked the District Court for the NMI to authorize the disbursement of funds held in the escrow account for the commission in the second and third sales of Imperial Pacific International LLC’s gaming equipment.
In appointing Clear Management as receiver, the court also provided that Clear Management would be entitled to a commission of 10% on all sales proceeds, White added.
He said the federal court, in an order on Feb. 14, 2023, approved the receiver’s report of $252,092 and $101,550 in sales made at the second and third auctions.
In addition, White said Clear Management recently received $607.20 from Angel Playing Cards for the sale of additional playing cards.
He told the court that the total sales on which the commission is due amount to $354,249.20.
White added, “Clear Management’s 10% commission is $35,424.92.”
Clear Management, as a receiver, was authorized to sell IPI’s casino gaming equipment pursuant to the court’s Oct. 26, 2021 memorandum decision based on an outstanding judgment owed by IPI to USA Fanter Corp.
