An auction will take place on February 26 if needed to determine the highest bid.Northern Mariana Islands.- Loi Lam Sit, the stalking horse bidder in the sale of Imperial Pacific International (IPI)’s assets, has made a good faith deposit of US$1.25m for the company’s assets.Loi Lam Sit is the gener
Chief Bankruptcy Judge Robert J. Faris from the District of Hawaii has been appointed to preside over the matter.Northern Mariana Islands.- Chief judgeRamona V. Manglona of the District Court for the NMIhas recused herself from presiding over Imperial Pacific International (IPI)’s bankruptcy proceed
It argues that the proposed sale would not benefit all creditors.Northern Mariana Islands.- The CNMI government has opposed Imperial Pacific International (IPI)’s request to approve bid procedures for the sale of its unfinished Garapan hotel casino and real estate assets to Loi Lam Sit for US$10m.Th
IPI’s creditors argue that the bid is low and works in favour of Loi Lam Sit.Northern Mariana Islands.- The committee of Imperial Pacific International (IPI)’s unsecured creditors has filed a motion opposingthe company’s plan to sell its unfinished Garapan hotel casino and real estate assets to Loi
IPI has sought approval to sell its Garapan casino.Northern Mariana Islands.- The Commonwealth Casino Commission (CCC) board chairEdward DeLeon Guerrerohas stated that if IPI liquidates its assets without a licence, there is no reason to delay revocation proceedings.IPI has requested approval from t
It argues that the proposed sale would not benefit all creditors.Northern Mariana Islands.- The CNMI government has opposed Imperial Pacific International (IPI)’s request to approve bid procedures for the sale of its unfinished Garapan hotel casino and real estate assets to Loi Lam Sit for US$10m.Th
/ THE END /
