Thursday, July 25, 2024 - Login

Former IPI contractor wins second writ of execution


Pacific Rim, a former contractor to Imperial Pacific International, has won a second writ of execution enforcing awards made in its favour against the casino operator, local media reports.

A district court judge in the Northern Mariana Islands in April granted a writ to the contractor to seize money owned or controlled by IPI in the Bank of Saipan, City Trust Bank, Bank of Guam, and First Hawaiian Bank.

The writ was to cover a judgement worth $6.8 million against the Hong Kong-based operator for breach of contract and breach of promissory notes, the Marianas Variety reports. 

The second writ is to obtain cash held in Security Title Inc. and Pacific American Title Inc.

IPI has filed counterclaims against Pacific Rim for promissory fraud, fraud in the inducement as to the promissory note, violation of Consumer Protection Act, and breach of contract. Now represented by attorney Michael Dotts, IPI, in its counterclaims, demands payment of damages.

IPI holds the only license to operate a casino on the island of Saipan, though construction of the project has been beset with delays and problems, such as shortages of labour and typhoon damage. One of its major contractors was also accused of hiring illegal labor from China, resulting in an FBI investigation.

 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief