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Who is the owner of Okada Manila?

founder Kazuo Okada JAPANESE gaming tycoon and Okada Manila founder Kazuo Okada has appointed a high-profile lawyer as his group's official spokesman.

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JAPANESE gaming tycoon and Okada Manila founder Kazuo Okada has appointed a high-profile lawyer as his group's official spokesman. In a statement sent to The Manila Times on Friday, Kazuo said the appointment of lawyer Rico Paolo Quicho as his spokesman signifies his serious commitment to protect his rightful business interest as founder and owner of Okada Manila. Kazuo was ousted as chairman of both Tiger Resort Leisure and Entertainment Inc. (TRLEI), operator of Okada Manila, and its parent company Universal Entertainment Corp. in 2017 amid allegations he had defrauded the company he founded. Last April, the Supreme Court issued a status quo ante order (SQAO) which temporarily reinstated him as stockholder, director, chairman and CEO of TRLEI. Quicho's first order of business is to share Kazuo's continuing pursuit of his long-term vision for Okada Manila and the promotion of Manila as top international tourism and legitimate gaming destination.

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Quicho, current dean of Universidad de Manila College of Law, intends to meet with members of the media next week during which he will "touch on corporate issues and developments involving Okada Manila from Chairman Okada's perspective, to the extent legally permissible under present circumstances." Quicho holds a Master of Laws degree from the University of California, Berkeley. He obtained his Juris Doctor degree from the Ateneo de Manila University School of Law. He is also the former dean of the University of Makati School of Law. He cut his teeth in litigation with the Siguion Reyna, Montecillo & Ongsiako Law Offices from 2003 to 2007. Since then, he has been in private practice, managing his own law firm. In 2012, Quicho represented the late Supreme Court Chief Justice Renato Corona during his historical impeachment trial as one of his spokesmen. He also appeared before the Senate as a member of Corona's defense team. During the 2016 presidential elections, he was designated as the spokesman for Political Affairs of former vice president Jejomar Binay. Recently, and in line with Philippine political developments, Quicho has been sought after as an expert resource person in topics regarding the role of technology in harnessing the proper delivery of public service, cyberlibel and data privacy.

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Can a bank legally take your money?

Generally, a bank may take money from your deposit account to make a payment on a separate debt that you owe to the bank, such as a car loan, if you are not paying that loan on time and the terms of your contract(s) with the bank allow it. This is called the right of offset.

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May a bank take money from my deposit account to make a payment on a loan that I owe to the bank?

Usually, yes, if allowed under the terms of your deposit account agreement and loan contract. Generally, a bank may take money from your deposit account to make a payment on a separate debt that you owe to the bank, such as a car loan, if you are not paying that loan on time and the terms of your contract(s) with the bank allow it. This is called the right of offset. Your deposit account agreement or loan agreement should contain an explanation of when the bank may exercise its right. However, federal law limits what a bank can do in some cases. For example, federal law won’t allow a bank to offset your deposit account to pay off your consumer credit card account.

Last Reviewed: April 2021

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