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IPI to pay contractor $5.6 million

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THE federal court has entered a civil judgement in the amount of $5.6 million against Imperial Pacific International, after finding that it has breached a promissory note with its former contractor, Pacific Rim Land Development LLC.

District Court for the NMI Chief Judge Ramona V. Manglona granted the partial summary judgement against IPI as it pertains to the breach of promissory note claim.

In her decision and order issued last week, she also denied the IPI motion to dismiss the lawsuit of Pacific Rim.

In addition, the judge said Pacific Rim is entitled to reasonable attorney’s fees and costs for filing the lawsuit, as well as pre-judgement interest.

Judge Manglona directed the clerk of court to enter judgement in favor of Pacific Rim.

On Monday, Magistrate Judge Heather Kennedy issued a civil judgement in the amount of $5.65 million in favor of Pacific Rim against IPI.

Represented by attorney Colin Thompson, Pacific Rim sued IPI for breach of contract for refusing to pay for services in the amount of $5.65 million after the contractor substantially completed or completed the agreed-upon construction work for the IPI casino-resort project on Sept. 30, 2018.

Pacific Rim also filed an application for a mechanic’s lien on the hotel-casino project of IPI and on the land where it sits.
An online legal dictionary states that a mechanic’s lien “empowers and enables contractors, suppliers, and others that work in the construction industry to get paid the money they’ve earned on their projects and jobs.”

IPI, in response to the lawsuit, stated that Pacific Rim intentionally overstated the costs it incurred in the construction of the IPI hotel-casino project in Garapan. “Pacific Rim fraudulently obtained from IPI a promissory note, which is therefore unenforceable,” IPI added.

Moreover, IPI stated that Pacific Rim failed to comply with the contractual condition requiring mediation before filing a lawsuit.

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