BREAKING NEWS: Contractor’s application to seize IPI’s $6.9M from banks is OK’d

Posted on Jun 08 2020

Tag: IPI, OK

U.S. District Court for the NMI Chief Judge Ramona V. Manglona granted today, Monday, a contractor’s application for a writ of execution that will direct the U.S. Marshal to seize at least $6.9 million of Imperial Pacific International (CNMI) LLC’s money from banks on Saipan.

Manglona ordered that the clerk issue a writ of execution in the full amount of $6,909,333 of the amended judgment on bank accounts of IPI identified in Pacific Rim’s application for the writ. That would be the Bank of Saipan, City Trust Bank, Bank of Guam, and First Hawaiian Bank.

Last April 27, Manglona entered a judgment in favor of Pacific Rim in the amount of $5.65 million against IPI. She later amended the judgment to incorporate pre-judgment interest and attorneys’ fees. The clerk then entered on May 28 an amended judgment in the amount of $6.9 million plus post-judgment interest.

IPI has appealed to the U.S. Court of Appeals for the Ninth Circuit to reverse Manglona’s April 23 order for IPI to pay Pacific Rim $6.9 million.

Ferdie De La Torre | Reporter

Ferdie Ponce de la Torre is a senior reporter of Saipan Tribune. He has a bachelor’s degree in journalism and has covered all news beats in the CNMI. He is a recipient of the CNMI Supreme Court Justice Award. Contact him at ferdie_delatorre@Saipantribune.com

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