The President of Okada Manila’s parent firm Japan-based Universal Entertainment Corp (UEC), Jun Fujimoto, has accused Kazuo Okada and his representatives of withholding information from the Philippines Supreme Court in its battle for control of the Manila integrated resort.
A group representing Kazuo Okada took control of Okada Manila in late May to enforce Status Quo Ante Order (SQAO) issued by the Supreme Court ordering restoration of the composition of the board of directors of Tiger Resort, Leisure and Entertainment Inc (TRLEI), Okada Manila’s operating entity, to its 2017 line-up, before a dispute that saw Kazuo Okada removed from the UEC board.
UEC subsequently said earlier this week that it would have to delay the release of the 2Q22 financial of TRLEI because it can’t access relevant records.
In a statement issued late Thursday, Fujimoto urged the Supreme Court to rapidly reverse its decision to issue the SQAO and claimed the evidence previously provided by the Kazuo Okada group did not accurately outline Okada Manila’s ownership structure.
UEC wholly owns Hong Kong-registered Tiger Resort Asia Ltd (TRAL) which in turn owns owns 99.99% of TRLEI.
“We at UEC formally and respectfully appeal to the Philippine Supreme Court and government agencies for their support and swift action,” Fujimoto said.
“We are confident that the pieces of evidence that we have provided to the honorable Court will speak volumes in the correctness of our position.
“Kazuo Okada and his group have misrepresented themselves and withheld vital information from the honorable court about the companies’ ownership structure. They have also no legal basis for taking control of the company.
“Kazuo Okada and his cohorts are not recognized by both UEC and TRAL, the legitimate owners of TRLEI.”
Fujimoto also reiterated the company’s plans to launch legal action against Kazuo Okada in Hong Kong.
“The actions of the Kazuo group are unscrupulous and blatantly disregard the law and have put the company and its employees in danger. It harms the Philippines’ international reputation as a center for business and investment,” Fujimoto said.
“We believe the acts made by Kazuo Okada and his collaborators fall into serious violation of Hong Kong, law, including falsification of official documents, fraud, and embezzlement and will file criminal charges against them with the Hong Kong authorities to pursue responsibilities for these acts.”
Kazuo Okada recently issued a statement of his own in which he denied claims of dishonest conduct in assuming control of Okada Manila.
“There are posts on the internet as if there were allegations of bribes, but please be assured that this is not the case at all. I will continue to make fair and honest claims and continue to do the right thing,” he said.
RelatedPosts
