U.S. District Court for NMI approves Kan Pacific Saipan’s petition for writ of execution

The United States District Court for the Northern Mariana Islands (NMI) approved Kan Pacific Saipan’s application for a writ of execution, allowing them to sell property owned by Imperial Pacific International (IPI) LLC in order to satisfy a verdict in excess of $600,000. The former Mariana Resort lessee, Kan Pacific Saipan, attempted to get accrued post-judgment interest in addition to a $697,801.30 verdict.

Kan Pacific now has the power to seize and sell various IPI-controlled assets, such as vehicles, alcoholic beverages, ornamental crystal dragons displayed in its grand entryway, equipment associated to casinos, and other items.

In addition, How-Yo Chi has been appointed as the new manager and director of IPI, replacing Dongting Zheng, who resigned from his position. The decision is made in the midst of IPI’s financial and legal challenges, which include winding up petitions in Hong Kong for allegedly failing to pay a verdict of HK$20.8 million ($2.7 million), plus interest and other costs.

Original story by: Asia Gaming Brief