Okada’s board to maintain control of Okada Manila
The Philippines’ Supreme Court has declined to overturn the status quo ante order that established Kazuo Okada as the sole representative of Tiger Resorts Asia.
The Philippines.- The courts have ruled again in favour of Kazuo Okada and his team, allowing them to retain control over the Okada Manila casino resort. The Supreme Court had refused to overturn a status quo ante order (SQAO) that establishes Kazuo Okada as the sole representative of Tiger Resorts Asia (TRAL) in Tiger Resorts, Leisure and Entertainment (TRLEI).
On May 31, Tiger Resort Leisure Entertainment and Universal Entertainment Corp lodged a complaint against Okada’s takeover of Okada Manila. They argued that an April 27 Supreme Court order restoring TRLEI’s board to the state it was in before Okada was ousted did not give him the green light to occupy the gaming resort.
However, the Supreme Court said in its August 10 finding that the status quo ante order was properly issued per law and jurisprudence.
The Court stated: “We note that criminal cases were allegedly filed against those involved in the 31 May 2022 Okada Manila incident,” and added that “there are substantive issues that need to be resolved before this Court can properly resolve the parties’ pending motions.”
The matter will now be referred to the Court of Appeal, which must report back within 30 days. It has been directed to obtain evidence on TRLEI’s financial condition and the alleged dissipation of its assets; supposed non-payment of landlord, suppliers and contractors” by Okada’s side; TRLEI’s alleged intention to list an entity in the United States; TRLEI’s purported plan to transfer its casino business to that entity; the supposed waiver of TRLEI’s leasehold rights over the land on which Okada Manila is situated; and other acts claimed to be ultra vires or prejudicial to TRLEI.
Criminal charges against Kazuo Okada and several Okada Manila board members have been dismissed by the Makati City Prosecutor (OCP). They had been accused of falsifying documents, but the prosecutor said there was a lack of probable cause.
The accusations had been made by Hajime Tokuda, director of Asia Best Group International and Universal Entertainment Corp – the parent company of Okada Manila operator Tiger Resort Leisure Entertainment Inc. (TRLEI).
