The U.S. District Court for the NMI has approved Kan Pacific Saipan’s petition for a writ of execution, granting them the authority to sell property owned by Imperial Pacific International (IPI) LLC in order to satisfy a court judgment exceeding $600,000.
Kan Pacific Saipan was the former lessee of the Northern Mariana’s Resort.
According to the report, Chief Judge Ramona V. Manglona, on the preceding Friday, approved Kan Pacific’s request for a writ of execution concerning IPI’s assets to settle a judgment of $697,801.30, along with accrued post-judgment interest.
This authorization empowers Kan Pacific to seize and auction IPI’s assets, including vehicles, alcoholic beverages, ornamental crystal dragons that adorn its grand lobby, casino-related equipment, and other items.
Dongting Zheng, who served as the manager and director of IPI, has resigned from his position at the Saipan gaming license-holding company.
How-Yo Chi has been appointed as the new manager and director of Imperial Pacific International.
On October 13th, IPI announced that it was facing two winding-up petitions in Hong Kong. These petitions were based on the alleged failure of the company to settle the judgment amount of HK$20.8 million ($2.7 million), along with interest and costs.