No settlement has been executed yet between the Commonwealth Casino Commission (CCC) and Imperial Pacific International Holdings, the parent company of casino operator Best Sunshine International.
Settlement Not Finalized as Scheduled
Both parties agreed to a settlement during a hearing last week conducted by the US District Court for the Northern Mariana Islands (NMI). They told Chief Judge Ramona Manglona that they expect the settlement to be executed by July 18, but according to a credible source, that did not happen as some terms still needed to be finalized.
With the parties failing to meet the July 18 schedule, the next course of action for the CCC is to file an opposition to IPI’s motion for preliminary injunction on or before July 22. The investment company would then be required to issue a reply by July 29.
If any talks for a settlement ultimately fail, the court will schedule a hearing on IPI’s motion on August 18.
CCC’s License Revocation Hearing Could Resume
The CCC, the gaming regulator of the Commonwealth of Northern Mariana Islands, is seeking to revoke IPI’s casino license over regulatory breaches committed by the company. It was supposed to conduct a license revocation hearing in May this year but IPI was granted a temporary restraining order (TRO) to prevent the hearing. IPI could ultimately lose its casino license in the commonwealth if it fails to execute a settlement with the CCC.