Fire sale of IPI assets to settle lawsuits

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