International edition
November 23, 2017 | Edition Nº3372

Hong Kong

Imperial Pacific agrees to settlement over winding-up bid

Imperial Pacific agrees to settlement over winding-up bid
Imperial Pacific is the company behind the Imperial Pacific Resort on the Pacific island of Saipan, which opened its doors in July.
Hong Kong | 11/06/2017

Hong Kong-listed casino investor has agreed a settlement with a construction consultancy called Mace Ltd over the latter’s court bid to wind up Imperial Pacific over a disputed bill.

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mperial Pacific is the backer of the Imperial Pacific Resort on the Pacific island of Saipan, which opened its doors in July. Until then, the company had been running a temporary gaming facility on Saipan called Best Sunshine Live. Saipan is part of the Commonwealth of the Northern Mariana Islands, a U.S. Pacific jurisdiction.

The agreement to pay the disputed HKD2.6-million (US$333,255) bill for construction management fees was signed on Wednesday.

“Mace Ltd shall submit an application to the High Court of Hong Kong for withdrawal of the winding-up petition and obtain the sealed order from the court as soon as possible,” read a filing from Imperial Pacific.

The casino investor had said in a Tuesday filing it was to fight Mace over the disputed bill.

For the first half of 2017, Imperial Pacific posted a net profit of HKD912.0 million, up 8.9 percent from the prior-year period.

Yogonet.com
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