IPI may move into receivership on Friday

The US District Court for NMI ordered the appointment of Joyce Tang as possible receiver of Imperial Pacific International in a potential settlement to pay off the balance that IPI owes the US Department of Labor in a consent judgment, though IPI still has until this Friday afternoon to pay its bill and avoid the receivership.

Meanwhile, the CNMI House of Representatives Committee on Gaming is launching a new probe to try to determine who exactly is in authority at IPI since each party within the firm claims that it is not responsible for decision making.

IPI, USDOL given Friday deadline (Saipan Tribune)
Gaming committee OKs oversight probe into IPI (Saipan Tribune)

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