Slider
Slider

|

Slider

Court grants Pacific Rim’s second application for writ of execution

Local
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

PACIFIC Rim Land Development LLC has been granted its second application for a writ of execution by the federal court.

District Court for the NMI Chief Judge Ramona V. Manglona previously granted the application of Pacific Rim for a writ of execution to seize money owned or controlled by Imperial Pacific International from Bank of Saipan, City Trust Bank, Bank of Guam, and First Hawaiian Bank.

On April 27, the court entered judgment in favor of Pacific Rim in its lawsuit against IPI for breach of contract and breach of promissory note. The judgment amounts to $6.8 million, including the principal amount and attorney’s fees and costs.

In its request for a second writ of execution, Pacific Rim, through attorney Colin Thompson, said it believes that IPI also maintains cash accounts in Security Title Inc. and Pacific American Title Inc.

The court granted the second writ of execution on Wednesday, June 10.

Judge Manglona earlier denied the motions of IPI for stay pending an appeal to the U.S. Court of Appeals for the Ninth Circuit.

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 casino-resort project of IPI on Sept. 30, 2018.

IPI, for its part, filed counterclaims against Pacific Rim for promissory fraud, fraud in the inducement as to the promissory note, violation of Consumer Protection Act, and breach of contract. Now represented by attorney Michael Dotts, IPI, in its counterclaims, demands payment of damages.

 

 

 

November 2020 pssnewsletter

previous arrow
next arrow
Shadow
Slider

Read more articles

Visit our Facebook Page

previous arrow
next arrow
Shadow
Slider