Okada Manila owners looking to block Kazuo Okada-group access to casino cage funds

August 5, 2022 Philippines Crime & Legal

The Tiger Resort Asia Ltd (TRAL) backed board of Okada Manila operator Tiger Resorts, Leisure and Entertainment Inc (TRLEI) says its lawyers have issued a demand letter to the Kazuo Okada-led board calling for the inspection of all internal documents following reports of unauthorized disbursements of corporate funds, primarily from the casino cage.

The letter from Divina Law comes after the TRAL-backed board recently claimed Kazuo Okada’s representatives were dispersing money directly from the casino cage at Okada Manila in response to its bank accounts being recently frozen.

As reported by Inside Asian Gaming, this intra-corporate dispute began when a group representing Kazuo Okada took physical control of the Manila integrated resort in May, citing a Status Quo Ante Order (SQAO) issued by the Supreme Court of the Philippines ordering restoration of the composition of the board of directors of TRLEI to its 2017 line-up, before the dispute that saw Kazuo Okada expelled from the company.

In a statement issued Thursday, the TRAL-backed board – which holds 99.9% of shares in TRLEI – said it has ordered the inspection and the furnishing of lists of payments or fund transfers amounting to more than Php1 million made to any party, payments made to all contractors since the take over and payments to any company linked to Kazuo Okada or his associates Antonio Cojuangco and Dindo Espeleta.

TRAL has also ordered the release of monthly management reports from June to July, a list of all rehired employees plus lists of all new supply and construction contracts, planned payments of over Php1 million for August, new bank accounts opened, changes in IT systems, and the records of deleted CCTV camera footage.