Sent case to appeal without overturning occupation of Okada Manila

Kazuo Okada will be able to retain control of the casino resort in Okada Manila, the capital of the Philippines, for now. This overturned the "current investment order" (SQAO) on the board of directors of the company set up to operate the resort, or specifically ruled against the way Okada interpreted the order as a physical acquisition permit.

Instead, an Aug. 10 statement filed Wednesday (Aug. 17) by the court said the merits of the arguments made by the opposition on the matter would go before the U.S. Court of Appeals. The agency must report back on the matter within 30 days of receiving a resolution from the Supreme Court.

Companies affiliated with the Japanese conglomerate Universal Entertainment, founded by Mr Okada, and Tiger Resorts Leisure Entertainment, Inc (TRLEI) had filed a petition on May 31 against Mr Okada's physical acquisition of Manila.

They argued that the Supreme Court's order on April 27 to restore TLEI's board of directors to the state before Okada was fired was not a green light for his occupation of the gaming resort building.

The Supreme Court said in its Aug. 10 ruling that the status quo order was "appropriately issued in accordance with law and jurisprudence."

The court said Universal Entertainment "was issued based on Kazuo's apparent falsehoods and falsehoods" and questioned the appropriateness of the SQAO issue, while the court found "the discussion was unprovoked."

It also said Okada's claim that the occupation of Okada Manila amounted to "a cooling effect on foreign investment and serious damage to shareholders" was deemed "speculative and unproven" by the court.

The court, however, said the status quo order "must be strictly enforced in accordance with the language of the order and the context of the nature of SQAO, namely to restore the parties to their last, actual, peaceful and uncontested state before the debate."

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