TRLEI announces new PAGCOR-approved board of directors

The company has said that it looks forward to Kazuo Okada’s participation in the scheduled board meeting in compliance with PAGCOR’s order.

The Philippines.- Tiger Resort, Leisure & Entertainment Inc. (TRLEI) has issued a company filing announcing its new PAGCOR-approved board of directors. In compliance with the Supreme Court’s Status Quo Ante Order (SQAO), the PAGCOR order and the Department of Justice, TRLEI has invited Kazuo Okada to a meeting that will be held tomorrow (Wednesday September 7) at 4.00pm local time.

Also in compliance with the SQAO and PAGCOR, Antonio Cojuangco, former TRLEI chairman, will not be allowed into Okada Manila. TRLEI has retaken control of the venue after a group led by Kazuo Okada occupied the premises for the past three months.

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.”

Kenshi Asano, TRAL director, had previously said: “We believe that the order from the PAGCOR affirms our position in the intra-corporate dispute in Okada Manila. It is consistent with both the letter and spirit of the SQAO of the Supreme Court. We are hopeful that both the High Tribunal and the Court of Appeals will agree and this issue can be put to rest very soon.”

Universal Entertainment Corp has also issued a company filing accusing the Kazuo Okada-led group that took control of Okada Manila of dismissing key employees in many departments. It said Okada’s team had discharged employees who did not follow their instructions and also accused it of destroying contracts and other evidence.

The company said it will “make efforts to normalize the operating structure by investigating this matter, examining the impact of financial statements and so forth.”