On November 10, 2023, Imperial Pacific International (IPI) is facing multiple challenges including outstanding debts, unresolved construction debris, and a court date next month. The company, responsible for the now-closed Imperial Palace casino in Saipan, has neglected to pay for the management of construction debris and is now facing a court judgment as a result.
The company had contracted Tang’s Corp. to handle the construction debris back in 2016, with an agreement to store it at a local landfill for further disposal, with IPI covering the costs. However, IPI failed to fulfill its end of the agreement, resulting in Tang’s Corp. taking the matter to court and receiving a judgment of just under $80,000, plus interest. Additionally, IPI received a judgment of $191,070.56 to cover fees and other costs owed to the Department of Public Lands.
Despite the judgments, IPI has continued to neglect its responsibilities, leading Tang’s Corp. to escalate the matter in court. A judge has now ordered a hearing for December 21, giving IPI the opportunity to explain itself.
In addition to its legal troubles, IPI is also facing challenges with its legal representation. The company has a history of losing law firms due to non-payment, and it is currently on the brink of losing another firm. The San Nicolas Law Office reportedly wanted to stop representing IPI in the Tang case for unspecified reasons, but a judge has not yet granted their motion to step away. This means that IPI will continue to be represented by a law firm that is hesitant to be associated with its ongoing issues.
Furthermore, IPI is also dealing with the seizure of assets to cover its debts. The Commonwealth of Northern Mariana Islands (CNMI) courts have approved the seizure of Imperial Palace assets to cover IPI’s outstanding debts, as the company owes tens of millions of dollars to the government and private companies. Clear Management Ltd., the receiver appointed by the courts, is currently inventorying the assets, including expensive scotch, cognac, gaming equipment, cars, limos, restaurant and kitchen equipment, grand pianos, art, and the Imperial Palace’s famous Crystal Dragons. The court has approved an extension for Clear Management to provide a supplemental inventory by December 6.
Overall, IPI is facing mounting legal and financial challenges, as it continues to grapple with debts, unresolved debris management, and the ongoing seizure of its assets. The company’s future remains uncertain as it navigates these complex issues.
