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Maximum Entertainment AB — Cathay Bank notifies intention to seek appointment of receiver over U.S. subsidiary
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Sällanköp |
| Industri | Gaming |
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Stockholm, Sweden, 20 April, 2026 — Maximum Entertainment AB (Nasdaq: MAXENT B) today announces that the company's U.S. subsidiary, Maximum Entertainment, LLC (the "Borrower"), has received a letter dated April 14, 2026 from Cathay Bank ("Cathay" or the "Bank") in which the Bank states its intention to immediately begin exercising its rights and remedies, including seeking the appointment of a receiver over the Borrower's assets and operations. The matter concerns the Borrower and its subsidiaries; other subsidiaries held directly by Maximum Entertainment AB are not affected at this stage.
The letter from the Bank reiterates that the Borrower is in default under its loan agreements with the Bank and, as previously disclosed on April 1, 2025, the Borrower received a notice of default and demand for payment in full of its credits with Cathay Bank. The Loans comprise a USD 8,000,000 revolving line of credit, a USD 3,000,000 term loan, and a USD 3,000,000 term loan.
According to the Bank's letter dated April 14, 2026, Cathay Bank has stated that, despite having voluntarily refrained from enforcing its remedies to date, it now intends to begin exercising its rights and remedies, including seeking the appointment of a receiver over the Borrower's assets and operations.
Since receiving the letter, Maximum Entertainment has engaged with Cathay Bank to discuss a potential resolution, but these efforts have not yet resulted in an agreement. The matter concerns the Borrower and its subsidiaries; other subsidiaries held directly by Maximum Entertainment AB, i.e. Maximum Entertainment France SAS (Just For Games), Maximum Entertainment Sweden AB, Max Ent Games Ltd (Merge Games), Maximum Entertainment Hungary Kft, are not affected at this stage.
Maximum Entertainment will keep the market informed of any material developments.