CHIEF Judge Ramona V. Manglona of the District Courtroom for the NMI has approved and granted Clear Management’s motion to approve the sale of Imperial Pacific International LLC’s gaming equipment in the total amount of $410, 000.
At a hearing on Wednesday, Clear Management, the particular court-appointed receiver, through attorney Michael White, provided an update regarding the sale plus asked the court to approve it.
The plaintiff, USA Fanter, through lawyer Colin Thompson, joined and supported the particular motion for approval while IPI, through attorney Samuel Salyer, told the court that his client had no position as in order to the reasonableness of the amount.
But Salyer requested a report upon the outstanding amounts of unsatisfied judgments against IPI before the sales are confirmed.
He requested that the court refrain from confirming the particular sale until IPI’s appeal has been decided.
Judge Manglona ordered the recipient to file a good interim report no later than Nov. 17, 2022 to show the list associated with creditors known to the receiver.
She informed the parties that a deposit will be made into the trust account, and that an expense report shall be filed by the particular receiver.
The judge also addressed the CNMI Department of Finance-Division of Revenue and Taxation’s motion to participate in the particular receivership.
CNMI Assistant Attorney General Dustin Rollins knowledgeable the courtroom that the Commonwealth intends in order to pursue its rights regarding tax liens.
Previously, the CNMI government said IPI owed tax in the amounts of $9, 416, 887. 09, $176, 880. 70 plus $812, 048. 09.
These amounts do not include any additional penalties, interest, and costs that may have accrued since the time the notices of tax liens were filed, Rollins said.
IPI’s attorney did not oppose the CNMI’s motion to participate, but requested in order to reserve the right to object.
Judge Manglona allowed IPI arranging an objection on shortened time no later than Nov. 17, 2022.
As for IPI’s oral motion to stay the receivership, the judge denied this.
In related news, the U. S. Court of Appeals for the Ninth Circuit has denied IPI’s emergency motion for a stay pending appeal.
IPI has appealed the District Court’s ruling denying IPI and some judgment creditors’ motion to stay the particular limited receivership.
IPI, the plaintiffs in Wang et al. v. Gold Mantis Construction Decoration (CNMI) LLC, the plaintiffs in Genc et al. v. Imperial Pacific World (CNMI) LLC, and N15 Architecture have jointly stipulated and asked for the federal court in order to enter an order staying the limited receivership established by the particular court.
IPI stated the restricted receivership should be dissolved because it has already reached settlements and made full payments to each judgment creditor.