The company claims Okada and his team have committed serious violations of Hong Kong law.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.-\u00a0Universal Entertainment Corp<\/strong> has announced that it will file criminal charges against Kazuo Okada<\/strong>\u00a0and his team in Hong Kong following their take over of Okada Manila.\u00a0<\/p>\n\n\n\n It made the announcement in a statement explaining the reasons for the postponement of the disclosure of Q2 financial results, which had been scheduled for August 9. The company\u00a0blamed Kazuo Okada and his team\u00a0<\/strong>for refusing to provide information, leaving Universal Entertainment unable to disclose a preliminary report according to its normal schedule.<\/p>\n\n\n\n According to Universal Entertainment, Hong Kong-registered Tiger Resort Asia Limited (TRA)<\/strong> is the parent company that holds 99.9 per cent of the voting rights of\u00a0Tiger Resort, Leisure and Entertainment (TRLEI)<\/strong>.<\/p>\n\n\n\n The company said: “TRA is a wholly-owned subsidiary of the company and […] the directors of TRA are appointed by the company are recognized by the authorities under Hong Kong law and registered and publicly disclosed in Hong Kong.”<\/p>\n\n\n\n Universal claims that Okada’s behaviour amounts to a violation of Hong Kong law and said it intends to file charges relating to the falsification of official documents, fraud and embezzlement.<\/p>\n\n\n\n On July 11,\u00a0Okada Manila\u00a0<\/strong>reported\u00a0an increase in business in June<\/a>, with foot traffic rising 8 per cent from the previous month to around 74 per cent of its pre-pandemic level. <\/p>\n\n\n\n