Flamobyant Hong Kong investment banker Stephen Hung has walked away from his ill-fated über-luxurious Macau hotel project The 13.

Late last week, The 13 Holdings informed the Hong Kong exchange that Hung had resigned his positions as the company’s joint chairman and executive director, and would no longer sit on any company committees.

The 13 also announced that Pride Wisdom Group, a company said to be jointly owned by Hung, had inked a sales and purchase agreement to transfer 82.5m shares in The 13 Holdings – representing nearly 9% of issued capital – to a company owned by deputy chairman Tom Lau Ko Yuen.

Hung claimed he had “no disagreement” with the company’s board and there were “no matters with respect to his resignation that need to be brought to the attention” of shareholders.