The Norwegian organizers of last winter’s Nordic World Ski Championships in Trondheim have finally released numbers showing that claims from their creditors exceed their available funds by NOK 37 million. If all creditors don’t agree to accept just 59 percent of what’s owed them, the organizers will need to file for bankruptcy protection.
All creditors owed less than NOK 40,000, meanwhile, will be paid in full. Those owed more from the financially troubled organizers are being asked to accept the 59 percent to avoid bankruptcy proceedings, which can also be expensive for them all.
They have a week to decide, and the lawyer for what’s called Ski-VM in Norway expressed optimism: “The creditors have shown great generosity in our negotiations and a spirit of contribution (called dugnad in Norwegian, where many pitch in to achieve a certain goal),” Ski-VMs lawyer Marius Gisvold told state broadcaster NRK. The leaders of Ski-VM, Åsne Havnelid and Åge Skinstad, have already given up the compensation owed them over the last three months of their contracts. That amounts to a total of around NOK 700,000 (USD 70,000), reported NRK and Nettavisen.
Ski-VM still faces bills totalling NOK 94 million, but has just NOK 57 million either already on the bank or on its way in. The City of Trondheim may come up with some more money to bail out the organizers, but it’s expected to be less than NOK 10 million, meaning creditors still face losses.
NewsinEnglish.no staff
