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Engineering firm wants settlement with IPI enforced
An engineering company has asked the Superior Court again to enforce the settlement agreement they had with Imperial Pacific International (CNMI) LLC, accusing the casino company of not being compliant.
Geo Testing Inc., a geotechnical engineering company, through lawyer Timothy H. Bellas, has asked the Superior Court to calendar anew its motion to enforce its settlement with IPI.
Bellas said the plaintiff’s motion was taken off calendar based on a stipulated request to vacate the hearing filed on March 14, 2020.
Part of the consideration for the stipulation by the parties was that if IPI fails to make any future monthly installment payment, the plaintiff would simply file a request to re-calendar the matter for a hearing.
Bellas added that the stipulation further provides that the plaintiff would update the amounts due to it based on the additional accumulated interest and fees from the date of the missed payment.
Now, Geo Tech is asking the court to calendar anew its motion to enforce settlement because other than the one payment that IPI made to induce the plaintiff to take the motion off calendar, IPI has allegedly made no further monthly payments on the amount due under the settlement.
Bellas said this is their second attempt to enforce the settlement agreement between Geo Testing and IPI that was executed on June 28, 2019.
Bellas said the settlement agreement was intended as a full settlement of the lawsuit.
Originally, Geo Testing sued IPI for non-payment of services, and demanded $454,934.33 in damages and interest. Bellas said the parties agreed to a settlement with a payment of a lesser amount than originally claimed.
IPI made one partial payment of $50,000 in March and the next payment was due on the last day of April 2020.
He said the unpaid balance under the settlement agreement was $129,034.73.
Bellas explained that the unpaid balance began to accrue interest of 9%, which is a daily amount of $31.81, beginning on May 5, 2020. He said the amount due to Geo Testing is now $130,911.52 plus accruing interest of $31.81 per day until the amount outstanding is paid in full.
