Kazuo Okada’s representatives have been denied permission to regain control of Tiger Resort, Leisure & Entertainment Inc (TRLEI).
The Philippines.- The Philippine Court of Appeals has 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).
Tiger Resort Asia Limited (TRA) has retaken control of the Okada Manila casino resort. The company said that Kazuo Okada would be recognised on the board for now in view of the SQAO which temporarily restored him to his position.
Kazuo Okada’s team 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 states: “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.”
According to the court, such documents include papers “concerning TRLEl’s alleged intention to list Okada Manila International (OMI) in the U.S.” and “documents showing TRLEl’s alleged plans to transfer its casino operating license to OMI.”
Earlier this week, Tiger Resort, Leisure & Entertainment Inc. (TRLEI) issued a company filing announcing its new PAGCOR-approved board of directors.
The company 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.”