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OAG drops NMI’s lawsuits vs business tycoon Millard, wife
The Office of the Attorney General asked the federal court yesterday to dismiss the income tax lawsuits filed by the CNMI government in 1993 against business tycoon William H. Millard and his wife.
Special assistant attorney general James R. Stump also asked the U.S. District Court for the NMI to vacate the court’s default judgments entered in 1994 in favor of the CNMI.
Stump made the requests after the CNMI and William and Patricia Millard entered into a settlement agreement. He did not disclose the amount that the Millards agreed to pay the CNMI.
The federal court entered on July 1, 1994, default judgments in favor of the Commonwealth and against William and Patricia Millard in the lawsuits on an assessed Northern Mariana Territorial Income Tax.
Stump said the parties on May 20, 2014, entered into a settlement agreement that effectively releases and discharges the Commonwealth’s claims against the Millards.
The CNMI government tax claim against the Millards totaled $118 million. The default judgments found the Millards liable to pay the Commonwealth $36.6 million.
The then-Fitial administration tapped the New York-based law firm Kobre & Kim to pursue the Commonwealth’s tax claim. The law firm tracked William Millard to the Grand Cayman Island in the western Caribbean in 2010.
Millard sold his interests in ComputerLand Corp. retail chain for over $200 million while he and his family were living on Saipan decades ago.
