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Pacific Rim wants court to seize IPI vehicles and gaming machines

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PACIFIC Rim Land Development LLC, in its latest writ of execution request, is asking the federal court to order the U.S. Marshals Service to seize the vehicles and gaming machines owned by Imperial Pacific International.

On April 27, 2020, the District Court for the NMI entered a judgment in favor of Pacific Rim in its lawsuit against IPI for breach of contract and breach of promissory note.

On May 2, 2020, the court entered an amended civil judgment in favor of Pacific Rim in the amount of $6.8 million including the principal amount and attorney’s fees and costs.

Pacific Rim attorney Colin Thompson is now asking the court for an order in aid of judgement by directing the sales of vehicles and gaming machines owned by IPI.

The court previously granted the application for a writ of execution of Pacific Rim to seize money owned or controlled by IPI from Bank of Saipan, City Trust Bank, Bank of Guam, and First Hawaiian Bank; and two escrow accounts believed to be owned by IPI at Security Title, Inc. and Pacific American Title, Inc.

Chief Judge Ramona V. Manglona on July 15, 2020 authorized the U.S. Marshals Service to release seized IPI funds from Bank of Saipan in the amount of $1,383,869.45, and $100 from Pacific American Title

Thompson said the judgment remains unsatisfied in the amount of $5,525,463.98 plus interest, costs, and fees that have yet to be addressed.

Pacific Rim is requesting the court to issue a writ of execution to have the vehicles and gaming machines owned by IPI sold in an auction to satisfy the judgement.

The contractor sued IPI for refusing to pay for services in the amount of $5.65 million involving the agreed-upon construction work for the IPI casino-resort project on Sept. 30, 2018.

 

 

 

 

 

 

November 2020 pssnewsletter

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