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A four-hour meeting ended with no settlement agreement.
Northern Mariana Islands.- Negotiations between the Commonwealth Casino Commission (CCC) and Imperial Pacific International (IPI) have hit an impasse following unsuccessful settlement discussions. After a four-hour session yesterday (April 9), CCC executive director Andrew Yeom said all options had been exhausted with no agreement reached.
Yeom said the CCC sought revenue generation and opportunities for IPI to resume construction of its hotel by securing a construction bond. However, legal issues surrounding IPI’s poor debt position prevented them from reaching a settlement.
CCC commissioners convened an hour-long executive session to address legal matters. CCC board vice chair Rafael S. Demapan announced a recess until today (April 10), citing the need for further legal counsel.
According to The Saipan Tribune, during the public comments portion, assistant attorney general James Kingman and representative Marissa Renee Flores (Ind-Saipan) urged the commissioners to revoke IPI’s casino licence while James Chua and Ted Deleon Guerrero opposed revocation. Kingman said IPI had deceived the CNMI and should leave the islands while Ted Deleon Guerrero said the casino operator wanted to invest but that some representatives were out to prevent that.
A four-hour meeting ended with no settlement agreement. Northern Mariana Islands.- Negotiations between the Commonwealth Casino Commission (CCC) and Imperial Pacific International (IPI) have hit an impasse following unsuccessful settlement discussions. After a four-hour…
