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'Max Havoc' director admits he won't be able to repay loan
It's the latest development involving "Max Havoc: Curse of the Dragon". The $800,000 loan guaranty the Guam Economic Development and Commerce Authority extended for the movie is officially in jeopardy. In a letter to GEDCA, the action/adventure film's producer, John Liang, reveals he will not be able to pay the loan, which will knock the Government of Guam's agency's loan into default.
GEDCA acting administrator Andy Jordanou this past Wednesday told KUAM News via phone, "He's communicating with us and the loan from Co-America is presently not in default. Our guaranty at the present time is still in place for the loan. However we are in communication both for Co-America as well as John Liang to make sure that things are adhered to, concerns that we have are addressed and we move forward."
But on June 15, Liang delivered a blow to GEDCA. In summarizing his latest letter, he wrote, "As you can see the prognosis for the film is not good," also writing, "we believe that the gap closing date on November 20 will not be reached and the loan to Co-America will not be paid by June 2006." The producer goes on to play on GEDCA's emotions by whining that "Rigel USA has made a significant investment in the picture over and above Guam Motion Picture's expenditure which needs to be addressed", as if to suggest they need more money from Guam in order to sell the movie.
In another development, after having exhausted legal efforts in Hollywood to get Liang to pay wages owed to one his professional photographers during the shooting of Max Havoc. Ralph Coon is now taking his complaint to Attorney General Douglas Moylan, complaining through a letter that a Guam corporation has failed to pay its employees for six months and suggest the AG's Office should investigate what coon characterizes as an outright scam.
As a result, Moylan says he is going to assign an investigator to scrutinize Mr. Coon's complaints, and adds his agency is standing by, should GEDCA require their assistance. Jordaneau says as far as he knows everything is fine with the loan and that he does not recollect reading correspondence stating that Liang was going default on the loan.
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