Kazuo Okada’s team denies business disruption at Okada Manila

It says that all financial obligations are met and that business transactions are continuing.

The Philippines.- Kazuo Okada’s team has reaponded after Universal Entertainment Corp announced that three Philippine banks had frozen the integrated resort’s accounts. It says there will be no disruption of business.

The Kazuo Okada led-group said that all financial obligations are met and that all ongoing business transactions will continue.

Okada’s team said the bank freeze has no effect on Okada Manila’s commitment to its partners and patrons nor on employees’ salary payments.

The company stated: “Management is closely working with the banks in order to provide continued support to Tiger Resort Leisure and Entertainment Inc.’s business needs.”

The development follows the controversial return of Kazuo Okada.

Last week, Tiger Resort Asia Ltd (TRAL), which owns 99.9 per cent of the shares of Okada Manila Tiger Resort Leisure and Entertainment Inc (TRLEI), had warned that “any transaction supposedly made on behalf of TRLEI, our subsidiary, by any of these individuals or their agents and representatives, will not be honoured or recognized.”