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Petition filed against IPI in HK court

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).

The petition was filed in the High Court of the Hong Kong Special Administrative Region.

In a filing to the Hong Kong Stock Exchange on Tuesday, Imperial Pacific said it is now seeking independent legal advice to dispute the claims.

“Since Mace Limited failed to provide satisfactory service and related evidence of service in accordance with the agreement, recovering construction management fees unreasonably, the Company has refused to pay such fees.”

“If the company pays the HK$2.6 million construction management fees, the petition will be dismissed, however, the Board considers that this commercial dispute does not constitute grounds for winding-up petition and it is believed that the court will make a just decision,” said the company.

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The principal owner of Tinian Entertainment Corp. says he is interested in resurrecting the defunct Tinian Dynasty hotel and casino.

Pacific IslandsWednesday, Jan 10, 2018

Imperial Pacific International has confirmed recent rumors about the departure of its chairman Mark Brown.

Pacific IslandsThursday, Nov 30, 2017

A mass exodus of workers on the Imperial Pacific Resort construction site could mean more delays are in store for the casino-hotel, which is aiming to complete construction by August 2018.

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The Commonwealth Casino Commission is recommending to set the maximum fine imposed on Imperial Pacific International to $200,000.

Pacific IslandsMonday, Nov 20, 2017

The House of Representatives is looking at increasing the maximum fine that can be imposed on players, licensees, vendors and employees of Imperial Pacific International under a new bill, local media reports.

Pacific IslandsTuesday, Nov 07, 2017

Slot machines owner Sin Ho Nam and operator Dan Bin Choi LLC are suing the CNMI government over new zoning restrictions that have forced the company to relocate its slot machines.

Pacific IslandsWednesday, Oct 25, 2017

Saipan casino operator Imperial Pacific International says it has invested over half-a-billion dollars into the CNMI local economy.