Delaware judge rules that Okada Manila casino can end reverse merger

Universal Entertainment Inc. and its affiliates with ties to the Okada Manila complex won a legal victory Thursday when a Delaware Court of Chancery judge declared that the gaming corporation does not need to proceed with a reverse merger planned by Jason Ader's 26 Capital Acquisition Corp. The judge found that Okada Manila is not required to carry out a merger agreement reached in October 2021. The judge also ordered that 26 Capital can pursue monetary damages and that he will rule on that later.
 
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