Okada Manila Entities Sue to Cancel 26 Capital Merger

The operating entities behind Okada Manila have filed counterclaims against U.S.-based SPAC 26 Capital Acquisition Corp, aiming to terminate a prior merger deal intended to list the resort on NASDAQ. The legal move marks a major turn in the halted \$2.5B merger, raising questions about the deal's future and corporate governance at the high-profile Philippine resort.

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Okada Manila parents looking to terminate merger agreement for US listing, accuse SPAC partner of fraud and breaching US securities laws – IAG
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Okada Manila parents looking to terminate merger agreement for US listing, accuse SPAC partner of fraud and breaching US securities laws – IAG

The operating entities of Philippines integrated resort Okada Manila have filed a series of counterclaims against US-based SPAC firm 26