Universal will pursue a criminal complaint in HK

Universal will pursue a criminal complaint in HK

Universal Entertainment Corp., a Japanese entertainment conglomerate, said in a Tuesday statement that it would pursue a criminal complaint in Hong Kong against Mr. Okada and his associates in relation to the physical takeover of the Okada Manila casino resort in the Philippines.

Universal Entertainment wants to take action in Hong Kong because a company registered in that city holds 99.9 percent of the voting rights of Tiger Resort, Leisure and Entertainment Inc.

The Philippine Supreme Court is currently handling a dispute between Universal Entertainment and Mr. Okada over control of TRLEI. The composition of the TRLEI board should be returned to how it was before Mr. Okada was ejected from it, according to an April ruling from the Philippine Supreme Court.

In its latest statement, Universal Entertainment claimed that Mr. Okada and his associates were in violation of Hong Kong law in relation to Tiger Resort Asia.

Universal Entertainment stated that Tiger Resort Asia is a wholly-owned subsidiary of the company and that the directors of Tiger Resort Asia are recognised by the authorities under Hong Kong law and registered and publicly disclosed in Hong Kong.

The second-quarter fiscal results of Okada Manila will be delayed because of a Tuesday release by Universal Entertainment.

Mr Okada and his associates refused to provide any information to Universal Entertainment. The Japanese company noted that Mr Okada and his party continued to occupy Okada Manila.

Universal Entertainment stated that the company group has established achieving the reclaiming of the Okada Manila resort and the normalisation of its operation through legal means.

On Monday, the opposing group made a claim and counterclaim about which could take credit for June casino gross gaming revenue.

Summary:

Japanese entertainment conglomerate Universal Entertainment said it would pursue a criminal complaint in Hong Kong against Kazuo Okada and what it termed his “collaborators” in relation to his physical takeover of the Okada Manila casino resort in the Philippines. Universal Entertainment claimed “serious violation of Hong Kong law” by “Mr Okada and his collaborators” in relation to Tiger Resort Asia Ltd.