SAIPAN — The Department of Public Lands says MB Capital Holdings LLC has paid all outstanding rent on its Marianas Beach Resort lease after receiving a Notice of Violation (NOV) for non-payment and missing compliance documents. The lessee is now current “up to the next anniversary date” and has agreed to submit remaining documentation on a set schedule, according to DPL.
DPL said it issued the NOV for non-payment and failure to submit required paperwork within the compliance period. After the notice, MB Capital asked for a chance to address the issues; payment in full followed on the next business day.
While some called for immediate termination of the lease, DPL said it is following due-process requirements and its trust obligations under Article XI of the CNMI Constitution and Public Law 15-2, emphasizing fairness, transparency, and investor engagement.
Next steps include DPL’s review of the promised submissions to determine whether they satisfy each cited article in the NOV. Any further action will follow applicable regulations and the lease terms, the department said.
