Accounts payable

Yeom: casino commission must revoke IPI’s license | CNMI

SAIPAN – The Executive Director of the Commonwealth Casino Commission, Andrew Yeom, on Wednesday filed four complaints against Imperial Pacific International and requested the revocation of the casino investor’s exclusive license in the Commonwealth of the Northern Mariana Islands.

In his report to the Commissioners, Yeom said: “It has been more than five months since the Commission Stay Order of 2021-002, which is the final order for Enforcement Measures 20-001 (Consolidated) and 20-003 (consolidated). 20-001 requires the IPI to settle in full, within 30 days, all uncontested accounts payable more than 90 days past due to licensed or unlicensed vendors, service providers or private entities, while enforcement action 20-003 directs the casino licensee to establish an account within 30 days of the effective date of this order with sufficient working capital for three months payroll. “

Sadly, the Executive Director said: “The very violations that triggered the suspension continue to accumulate as the IPI has done nothing to indicate its willingness to comply with the aforementioned final order.”

Therefore, Yeom said, he filed the following enforcement actions, each of them requesting the revocation of IPI’s exclusive license:

• Coercive measure 2021-001: Non-payment of the annual fee (tariff for 2020); and

• Coercive measure 2021-002: Not in accordance with the working capital requirement for three months of pay.

These were filed on September 17th and IPI has 15 days to respond.

On September 28, two more complaints were filed:

• Coercive measure 2021-003: Non-payment of regulatory fees (fees for 2020); and

• Implementing measure 2021-004: Non-payment of license fees due August 12.

To these complaints, IPI must respond by October 13.

“Major violations”

“As you can imagine, all of these violations are of a major nature,” Yeom told the commission. “As such, each of the four complaints is asking for revocations at this time. Also, please know that we are not done here.”

He said that unless the IPI complies, there will be a few more critical enforcement actions to be filed in October, all of which are major violations in nature.

“At this point, we have taken all the necessary steps to give the IPI the full process according to our law hoping that the IPI complies, but to no avail. Therefore, it is time that we go moving forward with these final steps and we will do it as carefully, but as quickly as possible, ”Yeom added.

The IPI casino in Saipan has been closed since March 2020 following the start of the global COVID-19 pandemic.

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