• last year
A Supreme Court order that temporarily reinstated Kazuo Okada in casino resort Okada Manila has been lifted…effectively removing the Japanese tycoon as its shareholder and chief executive officer.

Full story: https://www.rappler.com/business/kazuo-okada-officially-out-after-manila-hotel-casino-supreme-court-ruling-november-2023/

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00:00 A Supreme Court order that temporarily re-estated Kazuo Okada in casino resort Okada Manila has been lifted, effectively removing the Japanese tycoon as its shareholder and chief executive officer
00:12 In April 2022, the Philippine Supreme Court issued a status quo ante order which reinstated Okada on a temporary basis until the high court could determine whether the executive was lawfully removed from his post in 2017 for alleged fund misuse and fraud
00:27 The same order was used by Okada's camp to storm Okada Manila, leading to a hostile takeover on May 31, 2022 that involved private guards and police officers
00:38 Officials controlling Okada Manila then accused Okada's camp of kidnapping and grave coercion
00:43 Universal Entertainment Corporation, the parent company of Okada Manila, says it will restart talks on refinancing after Kazuo Okada's removal
00:53 you

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