Officials of a Japanese entertainment company in a merger fight over a Manila casino resort sought to improperly influence a prominent Filipino legislator to regain control of the property, a special purpose acquisition company suing Universal Entertainment alleged.
In a filing Monday in Delaware Chancery Court, the SPAC, 26 Capital Acquisition, claimed that Universal executives brought "heavy luggage” to a meeting with Philippine House of Representatives Speaker Martin Romualdez to try to secure his support in the dispute. They have been trying to take back control of the 40-hectare Okada Manila resort and casino, valued at $2.6 billion.
The filing includes emails that 26 Capital says show the executives flew from Japan to meet with Romualdez to enlist his help in pressuring the nation’s Supreme Court to advance their interests. The SPAC’s lawyers claim that Universal’s wrongdoing includes "potential bribery of governmental officials followed by efforts to run the deal clock out before such activity comes to light.”