Kazuo Okada fights for reinstatement

The businessman has asked a Parañaque court to order his reinstatement as chairman and director of the Okada Manila.

Philippines.- Japanese businessman Kazuo Okada was recently removed from the chairmanship and directorship of the Philippine casino operator that runs the Okada Manila casino resort and hotel. However, the gaming tycoon has urged a Parañaque court to order his reinstatement in his former position.

According to a complaint, Okada’s removal was “unlawful” and he asked the court to reinstate him as he assures his removal was determined “without authority” and violating the Corporation Code. “Mr Okada’s removal as a shareholder, Director, Chairman and CEO of Tiger Resort Leisure and Entertainment Inc is null and void ab initio pursuant to Section 28 of the Corporation Code. It produces no legal effect whatsoever,” says the 24-page document and adds: “Under Section 28 of the Corporation Code, only TRAL, which owns 99.9 per cent of TRLEI, may remove Mr Okada as a shareholder and director of TRLEI.”

According to Mr Okada, his removal was based on charges “meant to harass him and justify his illegal ouster.” He further stated that “far from being valid cases, their baseless accusations only serve to demonstrate the grand conspiracy perpetrated by my detractors who betrayed my trust. Their real goal is to make sure that my good name is ruined.”