{"id":264,"date":"2024-06-27T16:30:22","date_gmt":"2024-06-27T13:30:22","guid":{"rendered":"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/"},"modified":"2024-06-27T16:30:22","modified_gmt":"2024-06-27T13:30:22","slug":"tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada","status":"publish","type":"post","link":"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/","title":{"rendered":"Tokyo Court Upholds Universal Entertainment&#8217;s Case Against Kazuo Okada"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/3uI2saSqyek\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The highest court in Tokyo has dismissed Kazuo Okada&#8217;s challenge to a legal action brought by Universal Entertainment, the gambling company headquartered in the Philippines. The court determined that Okada did not meet his responsibilities as a leader of the company.<\/p>\n<p>The initial legal proceedings, conducted in February 2020, supported Universal Entertainment in their case against Okada, who was a co-founder and served as the head of the company until 2017.<\/p>\n<p>Universal Entertainment initiated the legal action after the company&#8217;s special investigative group concluded that Okada was responsible for three dishonest actions.<\/p>\n<p>Okada filed a counter-claim, arguing that the investigation and specific details revealed by the company during the process were intended to damage his reputation. However, the counter-claim was dismissed, and Okada challenged the decision of the Tokyo High Court. The court rejected the challenge on September 16th.<\/p>\n<p>The investigation discovered that between February and March 2015, Okada had Tiger Resort Asia (TRA) request a HK$135 million (US$17.3 million\/\u00a312.6 million\/\u20ac14.8 million) loan without interest from an unidentified global company. <\/p>\n<p>These funds were utilized to finance Okada&#8217;s artistic acquisitions, and Okada Holdings Ltd. to recuperate outstanding loans from external entities.<\/p>\n<p>Universal Entertainment&#8217;s fully owned subsidiary, TRA, manages the Okada Manila resort.<\/p>\n<p>Okada also requested that TRA&#8217;s financial administrator issue a check valued at HK$16 million, which was endorsed and released by Okada.<\/p>\n<p>Moreover, Okada influenced the land procurement of UE Korea, a wholly owned subsidiary of TRA. During the negotiation of the acquisition, Okada modified the primary business entity from UE Korea to Okada Holdings Korea Ltd.<\/p>\n<p>To accumulate the land down payment, Okada obtained a loan of $80 million through Okada Holdings Korea, utilizing UE Korea&#8217;s deposits as security.<\/p>\n<p>Afterwards, Okada directed OHL Korea to issue a bill of $173.5 million to UE Korea to conceal the loan amount, along with interest and charges.<\/p>\n<p>TRA received an online gaming permit from the Philippine Amusement and Gaming Corporation (PAGCOR) in April.<\/p>\n<p>In June, Universal Entertainment sought to secure financial flexibility through a reorganization of its notes to enhance its cash flow.<\/p>\n<p>Sign up for the iGaming News newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The highest court in Tokyo has dismissed Kazuo Okada&#8217;s challenge to a legal action brought by Universal Entertainment, the gambling company headquartered in the Philippines. The court determined that Okada&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Okada Loses Tokyo Court Battle Against Universal Entertainment<\/title>\n<meta name=\"description\" content=\"Kazuo Okada\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Tokyo Court Upholds Universal Entertainment&#039;s Case Against Kazuo Okada\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Kazuo Okada\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Your Gateway to a World of Licensed Online Casino Entertainment\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T13:30:22+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/\",\"url\":\"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/\",\"name\":\"Okada Loses Tokyo Court Battle Against Universal Entertainment\",\"isPartOf\":{\"@id\":\"https:\/\/secretnodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-27T13:30:22+00:00\",\"dateModified\":\"2024-06-27T13:30:22+00:00\",\"author\":{\"@id\":\"https:\/\/secretnodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Kazuo Okada\",\"breadcrumb\":{\"@id\":\"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/27\/tokyo-court-upholds-universal-entertainments-case-against-kazuo-okada\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/secretnodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tokyo Court Upholds Universal Entertainment&#8217;s Case Against Kazuo Okada\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/secretnodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/secretnodepositbonuscodes.icu\/\",\"name\":\"Your Gateway to a World of Licensed Online Casino Entertainment\",\"description\":\"Experience the thrill of licensed online gambling with our up-to-date news, in-depth reviews, and expert articles. 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