Merger Dispute Sparks Lawsuit by 26 Capital
A high-stakes legal battle has erupted as 26 Capital Acquisition Corp. files a lawsuit against entities affiliated with Okada Manila, the luxury casino and resort operator in the Philippines. The lawsuit stems from alleged failures by Okada Manila’s parent and related parties to fulfill their obligations and move forward with a previously agreed-upon merger deal. The merger, structured as a SPAC (Special Purpose Acquisition Company) transaction, was intended to take Okada Manila public and provide access to U.S. capital markets.
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