Okada Manila Seeks to End Merger, Cites SPAC Fraud

Okada Manila's parent company is pursuing termination of its merger deal for a U.S. stock listing, accusing its SPAC partner, 26 Capital Acquisition Corp., of fraud and violations of U.S. securities laws. The company claims breaches of fiduciary duty and misconduct during the deal process. Legal proceedings are underway as the casino giant seeks to exit the troubled agreement.

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Okada Manila Counters 26 Capital in Merger Dispute

Okada Manila’s operating entities have filed counterclaims against US-based SPAC 26 Capital Acquisition Corp, aiming to terminate a planned NASDAQ listing merger. The legal dispute involves allegations around the deal’s handling. Toji Takeuchi plays a central role in the case, adding further complexity to the high-profile conflict.

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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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