Amax International Holdings Ltd. has cut a deal with three major creditors to exchange 37.2 million shares and wipe out HK$9 million (US$1.146 million) in debt.
According to Inside Asian Gaming, the shares represent 4.35 percent of the Hong Kong-listed investor’s capital. The creditors include financial advisory firm, Chanceton Capital, which is owed HK$3.25 million by Amax; a company shareholder identified as Mr. Wong who is owed HK$2.5 million; and business consultant Skyline Ace, also owed HK$3.25 million.
