Imperial Pacific International has filed 13 more lawsuits in an effort to recover $12.75m in debts from Hong Kong and Chinese players in its Saipan casino.
The customers allegedly owe a total of $19.1m. According to documents filed last week before the Superior Court, the 13 customers took out loans ranging from $100,000 to $6.2m, the Saipan Tribune reports.
The alleged biggest borrower is Wenlong Cui, a resident of Hong Kong, who allegedly made two loans for a total of $6.2m and failed to pay $3,096,970. The newspaper cites the company’s legal counsel, Catherine Cachero, as saying that Cui took out a promissory note for $1m in October last year and subsequently asked for the amount to be doubled. She said Cui defaulted in payment of the first loan and that the amount due is $800,000.
On a second trip in November of that year Cui executed a second promissory note to borrow $2.2m. Imperial Pacific, which has yet to complete the construction of its IR on the island, has been hit by rising debts as most of its business comes through direct marketing rather than through junkets.
Source: Asia Gaming Brief
