IPI files for bankruptcy
Imperial Pacific International (CNMI) LLC has officially filed for Chapter 11 bankruptcy with the U.S. District Court for the NMI reporting that it owes creditors over $150M.
Chapter 11 bankruptcy allows a company to stay in business and restructure its finances and operations.
This is a developing story.
Imperial Pacific International (CNMI) LLC’s Imperial Pacific Resort in Garapan is seen here in this file photo.
-FERDIE DE LA TORRE
