‘Imperial Pacific International is in financial turmoil’

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Imperial Pacific International “is in financial turmoil at the moment,” its treasury director, Frances Mafnas, told the federal court on Monday.

District Court for the NMI Chief Judge Ramona V. Manglona on Friday ordered the financial officer of IPI to certify that all bank statements and records were submitted to the plaintiffs last week.

Mafnas told the court that IPI is struggling to supply the documents requested by the district court due to COVID 19-related furloughs and understaffing.

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IPI attorney Michael Dotts also blamed COVID-19 for IPI’s inability to pay various sanctions and costs due on June 5. He asked the court to extend the time to pay the sanctions and costs for an additional 60 days, saying: “IPI has been closed since mid-March due to COVID-19 pandemic and has no income.”

He added that “IPI’s parent company has been funding payroll and some other costs, but has not indicated a willingness to pay the costs associated with this case at this time.”

The sanctions and costs that have not been paid amount to $122,449.

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