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USA Fanter goes after IPI assets
USA Fanter Corp. Ltd. is asking the U.S. District Court for the NMI to allow the auction of Imperial Pacific International LLC’s assets to satisfy a court judgment of $2.1 million.
USA Fanter, through attorney Colin Thompson, asked the court to issue a writ of execution against IPI that would allow the auction of its vehicles and casino gaming machines in order to pay USA Fanter and satisfy the previous judgment entered against it.
According to Thompson, IPI has not posted a supersedeas or appeal bond, and has not obtained an order staying execution on the judgment.
He said the automatic stay operated only for 30 days from the date of the judgment and the automatic stay expired last March 14.
Because of this, USA Fanter requests that the writ of execution take effect and be served by the U.S. Marshals as soon as practicable.
Thompson said the judgment remains unsatisfied in the amount of $2,198,405.56 plus post-judgment interest, costs, and fees that have yet to be addressed.
Thompson noted that IPI owns and controls vehicles and casino gaming machines with an estimated value of $3,241,484.
“USA Fanter requests the court to issue a writ of execution to have the vehicles and casino gaming machines sold in an auction in order to pay USA Fanter and satisfy the judgment,” he said.
Thompson also requested the court to set a hearing and to provide IPI with the opportunity to advance any applicable exemptions.
USA Fanter sued IPI for refusing to pay $2.1 million for work completed under their construction contract.
Back in February, U.S. District Court for the NMI Chief Judge Ramona V. Manglona ruled in favor of USA Fanter against IPI in the amount of $2,089,345.28. Last May 26, the court amended the judgment and included a monetary judgment in the amount of $2,089,345.28.
