IPI receiver’s request for reimbursement OK’d

The court-appointed receiver in the receivership granted against Imperial Pacific International (CNMI) LLC has asked the U.S. District Court for the NMI to reimburse it for expenses incurred as a result of the auction of IPI’s gaming equipment.

Clear Management, through attorney Michael White, has requested the district court to authorize the disbursement of funds held in an escrow account for expenses incurred from June 10, through July 31, 2023, in the amount of $29,307. The federal court has since granted Clear Management’s request.

In his memorandum, White noted that the court’s decision on Oct. 26, 2021, stated that the receiver would be entitled to reimbursement of reasonable expenses incurred in connection with the sale of IPI’s gaming equipment. The court previously approved Clear Management’s expenses in the last four auctions.

The defense did not oppose Clear Management’s motion.

Clear Management’s limited receivership was established after USA Fanter Corp. sued IPI for breach of contract. The court then issued a final judgment in favor of USA Fanter. Last month, IPI and USA Fanter settled the case. (Kimberly B. Esmores)

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