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IPI, USDOL given Friday deadline
The U.S District Court for NMI ordered Friday the appointment of Joyce Tang as possible receiver of Imperial Pacific International (CNMI) LLC in a potential settlement to pay off the balance that IPI owes the U.S. Department of Labor in a consent judgment.
In a status conference at the district court in Gualo Rai last March 5, U.S District Court for NMI Chief Judge Ramona Manglona granted the U.S. Department of Labor’s request to allow IPI to pursue arrangements for possible settlement to pay off the balance of the consent judgment by this Friday, March 12, no later than 1:30pm.
Manglona said that if IPI fails to pay the remaining balance by that time, she will impose the receivership on IPI. Additionally, Tang was granted to do the initial account of total arrears, which includes fees and costs.
Imperial Pacific International Holdings Ltd. chair Cui Lie Jie was not present during the status conference but was represented by IPIH counsel Juan Lizama.
During the status conference, Tang, who is based in Guam, was asked if she will personally come to the island to do site visits in relation to liquidating assets, but Tang said it would depend on what will be sold. “I wouldn’t necessarily send a lawyer to do an inspection. …I think…the appointed receiver would have to hire or retain, depending on what you’re selling. …I think we have to look at what those assets [are] and who would be in the best place to do that and I’m sure we can find people who are able to do that,” said Tang.
For example, Tang said, there isn’t a need for her to come to the island to see the worth of the two crystal dragons in the casino lobby. “I think that we’ve got to be very clear on what services we’re talking about here. …The [Civille & Tang PLLC law] firm does not provide any service but legal service. …We do not do appraisers, we don’t go in and do site inspections, we have people who do that,” said Tang.
When asked who owned the two-dragon structure at the casino and the amount that was paid for it, IPI’s counsel Michael Dotts and Lizama said they were not sure who it belongs to.
Manglona ordered IPI to submit any information on the two-dragon structure, the amount paid for it, and confirmation on the ownership. This is also due on March 12, no later than 1:30pm.
