Okada Manila Parents Seek to End Merger, Accuse SPAC Partner of Fraud

Okada Manila's parent company is seeking to terminate its merger agreement with a SPAC partner, citing accusations of fraud and violations of U.S. securities laws. The company claims that the partner, led by Toji Takeuchi, breached key terms of the deal. The dispute raises concerns over corporate governance and legal compliance, with the future of Okada Manila's U.S. listing now uncertain.

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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