Eidfjord Resort Holding AS – successful reconstruction

Attorney Gunnar A. Haahjem has, as a reconstructor, contributed to Eidfjord Resort Holding AS successfully completing a forced composition reconstruction. The plans for Eidfjord Resort Holding AS are to develop a mountain village in Sysendalen in Eidfjord municipality with holiday apartments and cabin plots, hotels, shops and restaurants, combined with alpine resorts and activities for both the summer and winter seasons.

A demanding market for leisure properties made it more difficult and time-consuming to attract new investors to realize the plans, and in March 2025 the company was forced to file for reconstruction.

The recently adopted and confirmed reconstruction with a compulsory composition means that the creditors forgive a significant part of the debt, while Sysendalen Invest AS takes over the shares in the company and provides the company with capital and credit for dividends and further operations. Behind Sysendalen Invest AS are, among others, Elogøy Ventures AS with Jostein Hauken, Javipa AS with Paul Christian Rieber and the fisheries and industrial company Ervik Ocean AS.

The proposal for the compulsory composition reconstruction received support from creditors representing 91.7 percent of the total voting claims. The Hardanger and Voss District Court confirmed the compulsory composition reconstruction on 13 October 2026.

The confirmation is an important milestone, and lays the foundation for further operations. The realization of the development will, however, also require that sensible solutions are reached with the municipality when the zoning plan for the area is to be implemented and that the cottage market gradually improves.

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