Struggling Saipan casino operator Imperial Pacific International (IPI) has lost one of its directors while its chief lawyer has detailed what the FBI took when they raided the company’s offices last year.

On Monday, IPI informed the Hong Kong Stock Exchange that executive director Teng Sio I had resigned his seat, effective immediately. Teng, who briefly served as IPI’s chairman in 2018, was quoted saying he had no disagreement with IPI’s board and simply wished to devote more time to his family and his other business interests.

CONTRACTORS SCORING POINTS OFF IPI

Earlier this month, IPI learned that a lawsuit filed by one of its former contractors on the Imperial Palace Resort would be allowed to proceed. US District Court Chief Judge Ramona Manglona rejected an IPI motion to dismiss the suit by Pacific Rim Land Development, which claims to be owed $5.65m for work completed in 2018.