THE $154,113. 34 seized by U.S. Marshals from Imperial Pacific International LLC’s Bank of Saipan account will be released to attorney Colin Thompson’s law firm trust account, Chief Judge Ramona V. Manglona of the District Court for the NMI said.
Thompson represents Red Coral Corporation, doing business as Camille’s Gardenia, which sued IPI for not paying a lease agreement for a 20-unit apartment.
At a hearing on June 10, Judge Manglona told the parties that the funds would be released to the plaintiff once the funds clear the U.S. Treasury.
“Check to be made payable to Thompson Law, LLC Client Trust Account,” she said. “Once the funds are received, Attorney Thompson will file a notice of satisfaction to allow clerks to close the case.”
On Feb. 12, 2021, the federal court issued a judgment in favor of Red Coral Corp. in the amount of $150,000 plus post-judgment interest at a rate of 9% per annum, along with costs.
After the appeal period expired, Red Coral filed its second application for writ of execution directed at the Bank of Saipan for money owned or controlled by IPI in the amount not to exceed $163,500.
The amount included post judgment interest at 9% per annum accrued to date of no less than $13,500.
The court granted Red Coral’s second application for writ of execution directing the seizure of IPI’s money or currency held at the Bank of Saipan.
On March 8, 2022, the U.S. Marshals Service executed the writ, and the Bank of Saipan tendered a check to the court in the amount of $9,386.66 which the court released to Red Coral.
On May 6, 2022, Thompson filed a third application for writ of execution which the court granted on May 18, 2022.
On June 3, 2022, U.S. Marshals executed the writ of execution and received from Bank of Saipan $154,113.34 in a cashier’s check payable to the clerk of court.
The $115,113.34 and the previous $9,386.66 released to Red Coral will satisfy the judgment.
IPI representative Tao Xing, attended last week’s hearing without an attorney.
According to the lawsuit, IPI failed to pay any rent to Red Coral for the months of January through August of 2019.
