The Tokyo-based Universal Entertainment Corp. (UEC) is planning to file criminal charges against the group of billionaire Kazuo Okada and his cohorts, Tonyboy Cojuangco and Dindo Espeleta, with the Hong Kong Court for their violent and illegal takeover of Okada Manila casino hotel.
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“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,” said UEC president Jun Fujimoto in a statement.
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“We believe that 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,” Fujimoto added.
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Fujimoto said UEC was forced to take legal action against Kazuo’s group because the actions of their illegitimate officers have resulted in the delay of the company’s disclosure of the quarterly results of TRLEI in the Tokyo Stock Exchange.
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With the disruptions made by the usurper Kazuo Okada to the operations of Okada Manila as well as TRAL and UEC, Fujimoto said the company is bent on bringing him to court in Hong Kong, where TRAL is registered.
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UEC’s wholly-owned Tiger Resort Asia Ltd. (TRAL), which is based in Hong Kong, owns 99.99 percent of Tiger Resort Leisure and Entertainment Inc. (TRLEI), the operator of Okada Manila.
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TRAL’s nominees on the Okada Manila board, led by UEC director Hajime Tokuda, were kicked out by Kazuo’s group who stormed the casino hotel with at least 50 private body guards on May 31.
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Fujimoto said UEC only recognized the Okada Manila board led by Byron Yip as the legitimate in control of the the casino-hotel.
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“As the parent company’s president whose main wish is to safeguard all employees and help the Philippines as a member of the international business community, it is my hope that the honorable Philippine Supreme Court and government agencies will act quickly to resolve the issues surrounding Okada Manila’s ownership,” Fujimoto said.
UEC has appealed the SC issuance of a Status Quo Ante Order (SQAO) which Kazuo and his group used as a pretext to install themselves on Okada Manila’s board. UEC said usurping group abused the SQAO to control Okada Manila even though Kazuo did not control the casino hotel he only had one share under his name) when he was ejected from the board in 2017 for alleged misuse of funds.
Once the SC resolved its motion to in favor of TRLEI, UEC, and TRAL, Fujimoto said UEC would “clean up the mess” made by Okada and his cohorts and to proceed with the listing of Okada Manila in the United States.
“Welcoming back the UEC and TRAL-recognized board will set TRLEI and Okada Manila back on track and the company can focus on recovery and growth,” Fujimoto said.