Imperial Pacific agrees to settlement over winding-up bid
Imperial 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.
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