CA denies Kazuo Okada bid to retake Okada Manila board

The formerly deposed board of directors of Okada Manila — now back in control of the casino resort hotel — solidified its hold on the disputed luxury property on Thursday after the Court of Appeals denied Kazuo Okada’s petition to stop gaming regulators and Tiger Resorts Asia Limited (TRAL) from changing the current status quo in the firm.

The Court of Appeals’ 10th Division said that the controversial Japanese businessman’s plea for the court to stop Philippine Amusement and Gaming Corp. (Pagcor) and TRAL “from performing any and all acts that would displace” the pro-Kazuo Okada board or “disturb” the status quo ante order issued by the Supreme Court earlier was “denied for lack of authority.”

The order was signed by Associate Justices Ramon Cruz, Louis Acosta and Jaime Fortunato Caringal, and sent to TRAL’s counsel Divina Law, as well as Pagcor, and a resolution to this effect was issued on Sept. 7, 2022

The Court of Appeals, meanwhile, partially granted Okada’s motion for a cease and desist order against the gaming regulator and TRAL.

“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 Tiger Resort, Leisure & Entertainment Inc. (TRLEI) including its contracts with landlord, suppliers and contractors; documents involving TRLEl’s alleged intention to list Okada Manila International (OMI) in the United States; papers showing TRLEl’s purported plan to transfer its casino business permit to OMI; documents involving the supposed waiver of TRLEl’s leasehold rights over the land on which Okada Manila is situated; the general information sheets and audited financial statements of Okada Holdings Limited, Universal Entertainment Corp., TRAL and TRLEl; and other papers, documents and receipts relevant to our duty of determining the factual matters of the case,” the court said.

“Pagcor and TRAL are further ordered to account for the documents, such as but not limited to corporate records, general information sheets, audited financial statements and other relevant papers which came into their possession as a result of the incidents in Okada Manila on Sept. 2, 2022,” it added.