CLEAR Management Ltd., the court-appointed receiver, through attorney Michael White, has requested the federal court to issue an order authorizing and directing a payment of commissions in the amount of $21,056.20.
The motion for disbursement of sales commissions was dated May 30 but was filed in court on June 3, 2023.
In a memorandum attached to the motion, White said: “In its order of May 1, 2023, the court approved the receiver’s report and account of fourth auction. The total value of the successful bids received at the fourth auction was $225, 812.”
He said a total of $184,062 has been received. But he noted that one of the bidders, David Albanese, still has not paid $41,750 of his purchases amounting to $70,975.
White said Clear Management also sold playing cards to Angel Playing Card company.
“APC paid a deposit of $26,500, based on an estimate of the number of playing cards available. When the final number had been determined, APC paid an additional $607.20. Previously, Clear Management received a commission on the payment of $607.20 but never applied for or received a commission on the original deposit of $26,500,” White said.
Adding the $184,062 in actual sales receipts from auction four to the $26,500 received from Angel Playing Cards, the total amount upon which a sales commission is requested is $210,562, White said.
“Clear Management is entitled to 10% of this sum, or $21, 056.20,” he added.
On Oct, 26, 2021, Chief Judge Ramona V. Manglona appointed Clear Management as receiver for the purpose of selling Imperial Pacific International LLC’s gaming equipment to satisfy a judgment awarded to USA Fanter Corporation Ltd.
USA Fanter sued the casino investor for its failure to pay the full amount due to the plaintiff under their construction contract for labor and materials provided for the improvement of IPI’s real property in Garapan.
The lawsuit stated that IPI had paid USA Fanter $300,000 only and the unpaid balance due was not less than $2,089,345.28.
The judge issued a final judgment in favor of USA Fanter.
