Makati court freezes Okada -Century deal termination

The Okada Group, developer of the $2-million Manila Bay Resorts led by Japanese billionaire Kazuo Okada, has been ordered by the Makati Regional Trial Court to freeze the proceedings of its termination of a deal with Century Properties Group Inc.

In a statement emailed to the media on Tuesday, Century Properties -- a local property firm led by former ambassador Jose EB Antonio -- said the Makati court prohibited the Okada Group from pushing ahead with the termination of the deal between Century and an indirect Okada unit, Eagle I Landholdings Inc.