US Judge Not Ordering Completion of Philippine Casino Merger

 

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Wilmington, Delaware - The largest casino in the Philippines owned by a subsidiary of Japan's Universal Entertainment Corporation. You are not required to enter into a SPAC merger agreement with 26 Capital Acquisition Corp. if you belong to . completion . A Delaware judge ruled on Thursday. 에볼루션 카지노 라이브배팅

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Deputy Finance Minister Travis Luster said that subsidiaries, including Okada Manila, did not have to complete the $2.5 billion deal in 2021 because 26 Capital "should" do so by ordering the deal to be completed. 'It's partly because he demonstrated unrewarding behavior.' 안전온라인카지노
  Mr Laster said 26 Capital could claim damages and would do so at a later date. Lawyers for the casino owners said they were satisfied with the ruling, but lawyers for 26 Capital did not respond to requests for comment. 아시안커넥트 추천

  Delaware courts have a history of ordering parties to enter into merger agreements, but Laster said that is a situation in which the court can oversee and enforce the order, and the judge said it cannot. Stated.
Mr. Laster said the order to complete the transaction may violate a Philippine court order. In April 2022, the Philippine Supreme Court ordered Japanese pachinko king Kazuo Okada to return to management as a casino owner, as part of Okada's fight against his dismissal from Universal Entertainment. Mr Laster also said that mandating the contract would reward inappropriate behavior. He said the casino owners were not informed that hedge fund founder Alex Eisman of transaction advisor Zama Capital also owned more than 60% of 26 Capital's subsidiary. The casino's low-ball trades therefore benefited Eiseman's investments, and Laster described Eiseman's collaboration with 26 Capital as a "conspiracy to mislead Universal." Mr. Eisman's attorney did not respond to a request for comment. If this deal is completed, the casino will make him a profit of $275 million. Okada Manila opened in late 2016 and is the largest of his four multi-billion dollar casino resorts in the Philippine capital.

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