The US District Court for the NMI has officially approved the sale of Imperial Pacific International’s (IPI) casino assets following an October auction, denying the company’s efforts to delay such a move.
The first of a series of online auctions for IPI assets was held on 7 October, with receiver Clear Management Ltd agreeing to the sale of more than US$400,000 worth of equipment.
IPI had been looking to delay final confirmation of the sale with lawyer Samuel Salyer requesting a full report on the outstanding amounts of unsatisfied judgments against IPI before any asset sales are finalized, according to The Saipan Tribune.
The US District Court for the NMI last week agreed to issue an order to Clear Management Ltd detailing the list of creditors it is aware of but also confirmed the sale of equipment.
Clear Management has since confirmed that there are 21 claims against IPI in various local and federal courts.
The first auction of IPI’s casino assets attracted bids totalling US$410,000 and mostly involved card shufflers and chip sorters. Bids were received from the United States, Europe, India, Australia, South Korea and Saipan.
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