After years of contention, the convoluted ownership dispute surrounding the illustrious Okada Manila has reached its resolution. In a definitive settlement, the clouds of uncertainty have parted, revealing Tiger Resort, Leisure and Entertainment as the rightful navigator of the opulent resort’s destiny.
On September 2, 2022, with the backing of Philippines law enforcement, executives from Tiger Resort reestablished their control over Okada Manila, thereby steering the casino’s course once more. The Philippines Supreme Court had decisively voiced that the property’s founder, Kazuo Okada, had improperly commandeered it during a hostile incursion on May 31 of that year.
The Supreme Court’s reversal of the Status Quo Ante Order (SQAO) ripped down the last barricades for Universal Entertainment, the Tokyo-based conglomerate behind Okada Manila. The removal of the SQAO extinguished the legal challenges sparked by Okada, who had claimed wrongful ousting from the empire he had helped construct.
Despite Okada’s vigorous assertions and his strategic moves, the courts found his claims to be without merit. The Supreme Court, confirming Okada’s status as a nominal shareholder, underscored that the single nominal share he possessed in TRLEI had been revoked, thereby rendering his control claims groundless.
While Okada’s children—Tomohiro and Takako—hold significant shares through inheritance, the Supreme Court’s decision has reaffirmed the corporate hierarchy established in their favor by the international courts.
As the legal dust settles and the SQAO that facilitated Okada’s temporary command of the $2.4 billion complex is nullified, the aftershocks can still be felt. TRLEI alleges vast sums vanished in the shadow of the dispute, and a high-profile merger was stunted amidst the chaos.
While this may mark an end to the corporate skirmishes for Okada Manila, Kazuo Okada’s personal battles continue. His arrest on grave coercion charges over the resort’s raid, and his plea of innocence in an unyielding legal scuffle mirror the casino’s own turmoil. It’s a stark reminder that the chips can fall unpredictably, both in the courtrooms and the casino floors.
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