A 2022 court order that led to a forced takeover of Philippines integrated resort Okada Manila by a group representing its ousted founder has been lifted by the Supreme Court.
Okada Manila’s parent company Universal Entertainment Corp announced Monday that the Court recently issued a resolution denying a petition by Kazuo Okada in the intra-corporate case he filed against Okada Manila operator Tiger Resort, Leisure and Entertainment Inc (TRLEI). It also lifted with immediate effect the Status Quo Ante Order (SQAO) issued in April 2022 requiring TRLEI to restore the composition of its board of directors to its 2017 line-up, before the dispute that saw Mr Okada ousted for alleged acts of fraud against the company.
