Maximum Entertainment AB (publ) receives a summons from the Stockholm District Court in connection with legal proceedings initiated by Olivine Holdings, LLC.
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Sällanköp |
| Industri | Gaming |
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Maximum Entertainment AB (publ) (“Maximum” or the “Company”) announces that it has been served with a summons from the Stockholm District Court in connection with legal proceedings initiated by Olivine Holdings, LLC (“Olivine”).
This lawsuit is a direct continuation of the legal actions previously announced by Olivine Holdings, LLC, as disclosed in the Company’s earlier press release regarding the receipt of a notice of default and enforcement of rights under the credit agreement published on 13 May 2026.
Summary of key claims
According to the summons, Olivine requests that the Stockholm District Court order Maximum to pay USD 49,225,270.84, together with interest on the principal amount of USD 42,805,461.26 pursuant to Sections 4 and 6 of the Swedish Interest Act, from the date of service of the summons until full payment is made. Olivine also seeks reimbursement of its legal costs in an amount to be specified.
The claims arise from a credit agreement originally entered into in February 2023 between MG1 Acquisition Corporation (a subsidiary of Maximum) as borrower and Turning Rock Fund II-I LLC as lender, under which Maximum issued an unconditional and irrevocable parent company guarantee for all of the borrower’s obligations. Olivine succeeded Turning Rock Fund II-I LLC as lender following an assignment in August 2025. The total credit facility, including subsequent amendments, provided financing of up to approximately USD 36,100,000. The loans fell due for repayment on 5 February 2026 and remain unpaid. Olivine alleges that the Maximum group has been in breach of the credit agreement and related amendments since Q3 2024.
“The Company acknowledges receipt of the summons from the Stockholm District Court. Maximum will carefully review the claims presented by Olivine Holdings, LLC and will respond in due course through the appropriate legal process. At the same time, the Board of Directors notes that Olivine Holdings, LLC controls close to 80 percent of the Company following its completion of the public takeover offer. The Company will keep shareholders and the market informed of any material developments in accordance with its disclosure obligations.”