PUBLIC LAW 21-38

PRESS RELEASE January 07, 2020 FOR IMMEDIATE RELEASE GOVERNOR RALPH DLG. TORRES singed into law House Bill No. 21-11, SD1, SD3 entitled, "To clarify the powers of the Commonwealth Casino Commission and to make needed changes to the Commonwealth Code given the unique regulatory oversight of the Casino Industry in the Commonwealth; and for other purposes.," which was passed by the House of Representatives and the Senate of the Twenty-First Northern Marianas Commonwealth Legislature. This bill becomes Public Law No. 21-38. More   ...
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PRESS RELEASE: February 2020

PRESS RELEASE February 2020 FOR IMMEDIATE RELEASE CCC finalizes IPI order; sets deadline for March 10, 2020 The Commonwealth Casino Commission on Monday finalized the order for Imperial Pacific International (CNMI), LLC to settle all uncontested accounts payables (90 days or older) on or before March 10, 2020. The CCC during its January 30, 2020 board meeting discussed and approved CCC Order No. 2020-001 which orders the sole casino licensee to settle all uncontested accounts payables that are 90 days or more due. Additionally, the CCC further orders that IPI must within 30 days certify in writing that the casino licensee is a “going concern” as commonly used in financial accounting; the casino licensee as a business entity is “solvent” as commonly used in financial accounting; the casino licensee has the present ability to pay debts as they mature and become due, the casino licensee has paid all such debts within 90 days of their accrual; the casino licensee has the present ability to pay to...
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PRESS RELEASE: December 2019

PRESS RELEASE December 2019 FOR IMMEDIATE RELEASE CCC investigates IPI disputes with vendors: The Commonwealth Casino Commission is currently investigating disputes between Imperial Pacific International (CNMI) LLC and some of their vendors based on claims made during the Dec. 19, 2019’s monthly commission meeting. The Commission on Dec. 19, 2019 received a letter addressed to Executive Director Edward DeLeon Guerrero urging the Commission to act on reported claims of breaches of contracts to licensed professionals in the Commonwealth. This matter is taken seriously and the Commission is launching its own investigations to ensure that IPI complies with its contractual, regulatory, and legal agreements. The Commission notes that there are defenses to these allegations and not every nonpayment or late payment automatically constitutes a breach. Issues such as nonpayment, nonperformance and substantial performance are often questions of fact which require investigation and determinations by a neutral finder of fact. It is further noted that every vendor is unique and each contract is different. The Commission is grateful to these...
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