Fire sale of IPI assets to settle lawsuits

Imperial Pacific International

The NMI court has approved the auction of more Imperial Pacific International assets in order to settle two other lawsuits worth nearly $6 million.

Last week, IPI was ordered to sell its vehicles and gaming machines in order to satisfy a $2.1 million judgement against it by USA Fanter Corp.

Another writ of execution was ordered in favor of  Ping Shun Corp for $443,900.50. 

Yesterday, District Court for the NMI Chief Judge Ramona V. Manglona has ordered a writ of execution in favor of seven construction workers who sued IPI for labor violations for around $5.4 million. 

Saipan Tribune