The governor’s office filed a declaration in support of the government’s opposition to the sale of IPI’s casino assets.Northern Mariana Islands.-The CNMI Governor’s Office, represented by Brendan Layde, has joined the opposition to the sale of IPI’s assets to Team King Investment. It’s filed a decla
The general manager of Top Pride International has been chosen as the stalking horse bidder.Northern Mariana Islands.-Imperial Pacific International (IPI)and its unsecured creditorshave asked the federal court to approve the designation of Loi Lam Sit as the stalking horse bidder in the sale of the
The minimum bid requirement for all IPI assets has been set at US$10m in cash.Northern Mariana Islands.- Imperial Pacific International (IPI) and its unsecured creditorshave asked the federal bankruptcy court to allow them to create a bidding procedure tosell IPI’s unfinished Garapan hotel casino an
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
Governor Arnold I. Palacios needs to appoint at least one new member to move forward with IPI’s casino licence revocation hearing.Northern Mariana Islands.- Residents of Rota have shown their support for Thomas A. Manglona, who was nominated to join the Commonwealth Casino Commission (CCC) by govern
The court has approved creditors’ request to engage Intrepid Investment Bankers to market IPI’s properties as a holistic business.Northern Mariana Islands.- Chief judgeRamona V. Manglonaof the District Court for the NMIhas denied Imperial Pacific International (IPI)’s bid tosell its unfinished Garap
Creditors say that treating the assets solely as real estate could discourage potential buyers in the gaming industry.Northern Mariana Islands.- The committee of Imperial Pacific International (IPI)’s unsecured creditors aims to engage Intrepid Investment Bankers to market IPI’s properties as a holi
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