Kazuo Okada’s board rejects TRAL demand letter
The TRLEI board of directors says it does not recognise the authority of TRAL’s law firm.
The Philippines.- The Kazuo Okada-backed board of Okada Manila has rejected Tiger Resorts Asia (TRAL)’s demand for an inspection of all payments made since the group regained control of the venue. Anthony “Tonyboy” Cojuangco, TRLEI’s board chairman, said the law firm Divina Law does not have the authority to represent TRAL in the Philippines.
TRAL’s letter had demanded an inspection focusing on transfers exceeding PHP1m (US$18,000), payments made to all TRLEI contractors and transfers to Kazuo Okada, Antonio Cojuangco, or Dindo Espeleta-related companies.
TRAL also requested monthly management reports for June and July, lists of all rehired employees, all new supply and construction contracts, and projected payments of over PHP1m for August, as well as new bank accounts, changes to IT systems and records of deleted CCTV footage.
Divina Law said denial of this shareholder right “constitutes a crime under the amended company law”.
However, Kazuo Okada’s team argues that the Status Quo Ante Order (SQAO) issued by the Supreme Court of the Philippines establishes Kazuo Okada as the sole representative of TRAL in TRLEI.
TRAL director Kenshi Asano, through a statement sent to The Manila Times, accused Kazuo Okada-backed board of Okada Manila of “desperate attempts at paying themselves with the cage money.”
He also said the company received information that Okada Manila’s board was making payments to Transasia Construction Development Corp. (TCDC), an Okada Manila contractor linked to Espeleta, one of the members of the current board. The payments were allegedly made despite a PHP9.2bn overpayment claim by TRLEI to TCDC.
Okada’s lawyers seek dismissal of TRLEI lawsuit
Hajime Tokuda, the Japanese director of Tiger Resort Leisure and Entertainment Inc. (TRLEI) has claimed that Kazuo Okada took back control of Okada Manila using brute force and intimidation to force legitimate officers to vacate the casino premises. He even alleged kidnapping and coercion.
Okada’s lawyer is now seeking to have his lawsuit dropped due to a lack of factual evidence. He says that Tokuda had complied with a court order in favour of Okada, handing over his company ID and voluntarily agreeing to be taken home. He says CCTV footage shows Tokuda exiting the building peacefully.
A few weeks ago, Okada said he was preparing to file his own lawsuit against Tokuda for what he considers to be a violation of a Supreme Court’s order that returned Okada Manila to his control.
He said: “I created Okada Manila with a dream, but I was kicked out right after the opening. I would like to thank the people of the Philippines and the Supreme Court for giving me another chance to make ‘my dream’ come true.”