Enrique Razon. - PDI File photo
NEW YORK (Bloomberg): Philippines billionaire Enrique Razon was sued in New York by a company that claims the tycoon illegally terminated an agreement to operate a Manila casino and is hiding assets in the US to avoid paying an arbitration award.
The suit, filed Monday (March 29) in federal court in New York by Global Gaming Philippines, seeks to confirm a US$296.6 million arbitration award handed down by a panel in Singapore against Razon over his withdrawal of rights to operate the Solaire Resort and Casino in Manila’s Entertainment City suburb.
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