Kazuo Okada achieved a small legal victory as a court ruled he’s entitled to “reasonable” access to certain Wynn Resorts documents. A final decision has been deferred until February 23rd when Nevada District Court Judge Elizabeth Gonzalez will decide on the individual requests Okada makes to Wynn. The reason given by Gonzalez for allowing Okada access pertained to a director’s rights. She said: “Each director has a clear right to inspection under the common law.”
Okada can now make his requests to Wynn and they decide whether they’re reasonable or not. Any that are deemed by Wynn to be unreasonable will be referred back to Judge Gonzalez. It will be her decision in two weeks time that’s taken as gospel.
The disagreement began back in November when Okada’s requests to see documents were refused by Wynn’s board of directors. According to Okada these relate to an investment made Aruze and how it’s been used. He’s also after details on a $135million donation that the firm made to the University of Macau.
Wynn’s side of the fence tells it differently. Their argument is it stems from their decision not to invest in Okada’s project in the Philippines as it competes with their own interests in the region. Okada didn’t mention this in his filing and it’s probably Wynn’s loss given the country could be the next Asian destination to surpass Nevada in terms of revenue.
Wynn comments about the Philippines backed up similar ones made by Mr Steve Wynn just last week and could be the crux of the situation. Whatever happens this dispute doesn’t look like giving either side the victory they wanted, as they both have to give something up. Unless Okada gets in a successful request to see some compromising photos of the Wynning Women. What…they don’t exist. That’s what they want you to think.
