TRLEI’s chief financial officer and board director said the board meeting was “peacefully conducted”.
The Philippines.- Universal Entertainment Corp has announced through a press release that Kazuo Okada did not attend Wednesday’s Tiger Resorts, Leisure & Entertainment Inc (TRLEI) board meeting. Although Tiger Resort Asia Limited (TRA) has retaken control of Okada Manila’s casino resort, Kazuo Okada continues to be recognised on the board in view of an order that temporarily restored him to his position.
When TRLEI announced its new PAGCOR-approved board of directors, it stated: “The TRLEI Board looks forward to the full resumption of normality at Okada Manila, and looks forward to Mr. Kazuo Okada’s participation in the scheduled Board Meeting in compliance with the SQAO and PAGCOR Order.”
However, Universal Entertainment says Okada did not join the board meeting in person or via video conference. Hans Van der Sande, TRLEI’s chief financial officer and board director, said that the board meeting was “peacefully conducted”.
He said: “It was a successful exercise of our administrative and operational management to bring the business back into the normal course of operations.”
On September 9, the Philippine Court of Appeals denied a request from Kazuo Okada’s team to stop the Philippine Amusement and Gaming Corp (PAGCOR) from changing the board composition of Tiger Resorts Asia Ltd (TRAL). Kazuo Okada’s team had asked the Court of Appeals to prevent PAGCOR and TRAL from “taking any action to overturn the board appointed by Kazuo Okada or to ‘undermine’ the status quo order previously issued by the Supreme Court.”
However, the Court of Appeal’s ruling stated: “Pagcor and TRAL, their agents, representatives and all persons acting on their behalf are ordered to immediately cease and desist from performing any and all acts that interfere with, impede and obstruct the proceedings before us, such as but not limited to allowing TRAL and/or its representatives to inspect the corporate records of TRLEI.”