Preserving status quo daw! Kazuo Okada twists SC order by installing 3 new faces on Tiger Resort board through thuggish takeover

Tiger Resort Leisure and Entertainment, has accused Kazuo Okada’s group of contravening the Supreme Court order to maintain the status quo in Okada Manila before the Japanese billionaire was kicked out in a boardroom squabble five years ago.
Tiger Resort, through its counsel Divina Law, claimed that Okada installed four new individuals who were not on the company’s board in
2017 – Tetsuya Yokota, Hiroshi Kawamura, Dindo Espeleta (vice chairman, treasurer and Kazuo’s representative), and Joel C. Flores (assistant corporate secretary) – in “utter disrespect” of the SC’s status quo ante order (SQAO).
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They replaced Kengo Takeda, Riza V. Tumale, and Laurence Hawke who werd members of Tiger Resorts board in 2017 while Kazuo also reinstalled himself as chairman and CEO, and his ally, bilyonaryo Tonyboy Cojuangco, as president.
Tiger Resort said the SQAO simply directed the parties ‘to observe the status quo prevailing prior to Kazuo’s removal as stockholder, director, chairman, and CEO of Tiger Resort in 2017’ and the SC did no not grant Kazuo’s prayer “to immediately restore him as the sole representative” of Tiger Resort in Okada Manila and it did not empower him “to designate a director and/or officer of TRLEI.”
 
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“Kazuo lost no time in perverting the SQAO, the only partially favorable order that he obtained after he lost all legal cases involving his supposed ownership and control of OHL (Okada Holdings Limited), the parent company of Tiger Resort, in Japan and Hong Kong courts,” said Tiger Resort.
“Clearly, the May 2 board, comprising of newly elected directors and officers, is NOT the status quo board in 2017. It is a bogus board composed of usurpers who never had authority or power to represent TRLEI even prior to 2017,” it added.
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Kazuo made the board changes in a special stockholders meeting on May 2 based on his supposed majority ownership of Tiger Resort.
But Tiger Resort pointed out that the Japanese courts have already ruled that Kazuo has no control over OHL (which owns 68 percent of Universal Entertainment, which in turn owns 100 percent of Tiger Resorts Asia, and which in turn fully owns Tiger Resort/Okada Manila).
Kazuo owns only 46 percent of OHL while his son, Tomohiro, owns 54 percent (including voting rights of the 10 percent stake held by Kazuo’s daughter Hiromi) of Okada Manila’s ultimate parent. Tomohiro ousted his father from OHL after gaining majority control in 2017.
Tomihori tightened further  his grip on OHL after the Tokyo District Court rejected in 2020 Hiromi’s appeal to take back her voting rights so she could return her father to power.
Tiger Resorts said courts in Japan and Hong Kong have already ruled that Okada has no control over OHL, which effectively limits his ability to influence and control the affairs of Tiger Resort.
 
Pagcor backs Kazuo’s return to power in Okada Manila: We monitored takeover, ousted chairman not bodily hurt
 
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