A “wind-up” petition has been filed against Imperial Pacific International over allegations that the company defaulted in paying construction management fees of approximately HK$2.6 million (US$333,284)
Hong Kong-listed Imperial Pacific International says construction work at its delayed casino resort on the Pacific island of Saipan is now on track and it expects the labor issues that have dogged the project to be resolved soon.
Imperial Pacific International says impairment of the group’s trade receivables in the six months ended June 30, 2017 amounted to HK$2.1 billion (US$268.7 million).
Hong Kong-listed Imperial Pacific finally opened the casino portion of its $3.1-billion IR project on the Pacific island of Saipan in July, though the group still faces hurdles in completing the resort.
The members of an online gambling gang were reportedly rounded up and returned to China from Fiji after Beijing sent a team to the island to investigate, according to media reports.
Imperial Pacific International Holdings Ltd has announced amendments to its casino license agreement regarding timings for its initial gaming facility, as well as phase one and two integrated resorts.
