Bloomberg reported on Tuesday that Global Gaming Philippines sued Razon in a federal court in New York for "illegally" terminating a deal to operate Solaire Resort and Casino in Parañaque City. The lawsuit specifically seeks to "confirm" a $296.6-billion award from an arbitration court in Singapore against Razon for the termination of the said deal, Bloomberg reported. According to Global Gaming's complaint, the billionaire managed to evade paying the arbitration award by forming "a vast network of shell companies” in the US to conceal his assets. The suit also alleges that Razon blocked Global Gaming from selling its rights in Solaire. Lawyers of SPI and BRHI has argued that the arbitration award can only be enforced by a Philippine court.

Source: Philippine Star March 30, 2021 08:03 UTC