Okada Manila Parents Seek to Terminate Merger, Accuse Toji Takeuchi and SPAC of Fraud

Okada Manila's parent company is trying to terminate its merger agreement with a SPAC, accusing Toji Takeuchi and the partner of fraud and violations of U.S. securities laws. The dispute raises concerns about the integrity of the proposed U.S. listing, with allegations of illegal activities affecting the deal's future.

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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