Businessman Joe Ayuyu has withdrawn his nomination to become the receiver for the financially beleaguered Pacific Gardenia Hotel.<\/p>\n
However, the Commonwealth Development Authority expressed optimism that a receiver would be appointed by the Superior Court on Thursday during a scheduled hearing.<\/p>\n
Ayuyu\u2019s withdrawal of his nomination by the CDA prompted the agency to come up with a new list of prospective candidates for receiver.<\/p>\n
CDA lawyer F. Matthew Smith said Ayuyu withdrew his nomination because the businessman has \u201cother projects\u201d to focus on.<\/p>\n
The Superior Court has scheduled a continuation of yesterday morning\u2019s hearing on the request for receivership on Thursday, during which the CDA expects the court to select the receiver from a list of candidates.<\/p>\n
Smith said the list includes former Rotary Club president Edward Salas, Saipan Chamber of Commerce treasurer-elect Mike Johnson of Deloitte Touch & Tahmatsu, Rex Palacios, David Jones, Roger Slater, and Larry Cabrera. He said he would consult with CDA officials regarding the list.<\/p>\n
The receivership proceeding at the Superior Court resumed after the U.S. District Court junked the bankruptcy petition initiated by Ronald Sablan, president of Sy\u2019s Corp. that operates the hotel.<\/p>\n
Superior Court presiding judge Robert Naraja ordered the appointment of a receiver to take control of the corporation\u2019s assets and business last Sept. 9 and scheduled a hearing to decide on the identity of the receiver from nominees on Sept. 13. The bankruptcy petition in federal court, however, temporarily halted the receivership proceeding.<\/p>\n","protected":false},"excerpt":{"rendered":"
Businessman Joe Ayuyu has withdrawn his nomination to become the receiver for the financially beleaguered Pacific Gardenia Hotel.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-86033","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/86033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=86033"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/86033\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=86033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=86033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=86033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}