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Maaseide had no idea that his son-in-law was about to go bankrupt.
Petter Smedvig Hagland was considered just a few years ago one of the richest men in Stavanger. Now father-in-law Bjørn Maaseide must intervene to save him from personal bankruptcy, writes Dagens Næringsliv.
According to the newspaper, Maaseide received the message in May when his daughter, Kristina Maaseide called. She, too, had been kept out of what was happening, and was told only a few days before she called her father.
Also read: Norges Bank generates alarm about the debt of Norwegians
– Can you imagine going with that secret? Everyone thinks you’re rich, so you’re conc. It must have been absolutely terrible, Maaseide tells the newspaper.
In May, Smedvig Hagland’s total debt was NOK 150 million, with a personal guarantee of NOK 115 million. The creditors and the main bank DNB have now agreed to a deal, which includes extending their loans with Smedvig Hagland’s Petrus company. Maaseide invests 5 million crowns which are used to pay off the debt.
Read more: Controversial luxury apartment sold for NOK 15 million
Not long ago Smedvig Hagland had a fortune of more than 500 million crowns. The Smedvig family became one of the richest in Norway after the Smedvig platform company was sold to John Fredriksen. Now everything will be gone for Petter. Maaseide hopes things will work out for the son-in-law.
– We hope that it can start again and have a base in three or four years to continue operating, he tells the newspaper.
Also read: Current NRK Bjørn Maaseide has decided: This is what his children will inherit
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