Tiger Resort Leisure and Entertainment (TRLEI) has just released a statement saying that today, “a group of Mr Kazuo Okada, illegally and violently took over the premises of Okada Manila, employing brute force and intimidation to compel key legitimate officers to vacate the premises.
“Led by former board member Tonyboy Cojuangco, Dindo Espeleta, and lawyer Florencio Herrera III, the group of Mr Kazuo Okada came in with around 50 private guards and police officers of Paranaque City Police and a Sheriff of the Regional Trial Court of Paranaque City, storming the building on the pretext that they were authorized by a Court order, but refused to show to anyone a copy of any writ authorizing their actions.”
The dramatic actions follows the news reported by IAG just over two weeks ago, that Division 2 of the Supreme Court of the Philippines has issued a Status Quo Ante Order to TRLEI, which ordered restoration of the composition of the board of directors of TRLEI to its 2017 lineup, before the dispute between Universal Entertainment Corporation and Kazuo Okada began.
TRLEI repeatedly described today’s events as acts of “brutality and the use of brute force against the legitimate officers of TRLEI”, saying, “the interlopers have kidnapped Mr Hajime Tokuda [a director of Universal Entertainment] and as of this time brought him out of the hotel. In the process, they also harmed and caused serious injuries against the other officers of the company, and their lawyers who were present.”
Atty. Estrella Elamparo, Senior Partner of Divina Law, who IAG understands is acting for TRLEI, said, “We are appalled at the blatant disregard of authority by the group of Mr Cojuangco. Without the necessary court order, they arrived with a private security group who forcibly carried the legitimate members of the TRLEI Board out of the property premises.
“This violence must be condemned and is a serious criminal offense. What they did to Mr Tokuda is no less than kidnapping. They are acting like hoodlums under the command of the sham board.”
As reported by IAG just over two weeks ago, TRLEI had filed an Urgent Motion for Reconsideration to ask the Supreme Court Second Division to reconsider or revoke the Status Quo Ante Order.
TRLEI has stated that it believes that there is a strong legal basis for the revocation of the status quo order, claiming, “the removal of Mr Okada was valid and legal and done upon the instructions of its parent company Tiger Resort Asia Limited (TRAL), which owns 99.99 percent of TRLEI.
“TRAL, which is a Hong Kong company, is not under the jurisdiction of Philippine courts nor subject to the SQAO [Status Quo Ante Order]. Further, TRLEI is indirectly wholly owned by Universal Entertainment Corporation (UEC), a Japanese publicly listed company. The Tokyo District Court, Tokyo High Court and Japanese Supreme Court have already effectively decided with finality that Mr Okada’s removal was valid. UEC, TRAL and TRLEI are confident that the Philippine Supreme Court will eventually see the correctness of TRLEI’s position, rule in TRLEI’s favor, and recognize the Japanese courts’ decisions on the dispute between Japanese citizens over the control of the Japanese parent of TRLEI and its subsidiaries.”
TRLEI went on to point out, “Prior to his removal, Mr Kazuo Okada only held one share of stock in the corporation. He therefore did not have the authority to take control of the corporation in such unceremonious fashion. There is nothing in the SQAO, which remotely authorizes Mr Kazuo Okada to take over the premises of the corporation, much less with the use of force. By using the SQAO to execute their illegal takeover, they have abused court processes, thereby making a mockery of the administration of justice. The SQAO is a temporary or provisional order, while the assigned division of the Supreme Court is still studying the case and has yet to decide on the merits of the case.”
However, a legal expert based in the Philippines, who asked not to be named, told IAG at the time of the issue of the SQAO that, “The [Order] requires the return of the state of affairs prior to filing of the case. In the case of Okada [that means] his return to his board seat and position as CEO with TRLEI when he was evicted by the other group.
“What it means for TRLEI is that they need to comply with the Supreme Court’s order for the reinstatement of Okada. They can opt to file a Motion for Reconsideration but the Supreme Court rarely reverses itself and the reinstatement is likely inevitable.”
IAG understands the Okada Manila premises is now operating under the bizarre situation of two separate groups of people claiming they are the legitimate board, and accusing the other group of being a “fake board.” TRLEI’s statement released to IAG says, “the legitimate Board Members of TRLEI are working with its legal counsel and relevant agencies to achieve a swift resolution to the trespassing and illegal take-over by the group of Mr Kazuo Okada,” and goes on to appeal to all stakeholders to “please be assured that there is no change in the leadership and management of the UEC, TRAL or TRLEI.” However, IAG understands that Mr Kazuo Okada is now claiming to be the active Chairman of TRLEI, with Mr Tonyboy Cojuangco claiming to be President.
A variety of sources have been contacting IAG in the previous two hours. Unconfirmed reports claim that Mr Kazuo Okada was “present by zoom” during the hostile takeover, and that Okada Manila Property President Mr Byron Yip, number 48 on the IAG Asian Gaming Power 50 in 2021, has been “removed from the premises.”
