The trading of Kvaerner's shares were suspended by Oslo Stock Exchange on Monday and Tuesday.
But the help offered by Aker Maritime was not what Kvaerner's board had expected.
Kvaerner, a European shipbuilding and engineering firm, has agreed to build the first four ships at its Philadelphia yard.
Rather than stepping in to guarantee the share issue, the company has reportedly offered to lend money to Kvaerner, using a financial vehicle called a convertible loan.
Kvaerner, for one, is still committed to using long-term incentives as a tool to hire and retain the best executive talent and to align management's and shareholders' interests.
Kvaerner is trying to raise at least one billion kroner and up to two billion kroner by issuing new shares in a push to sort out its short-term financial problems.
Mr Almskog held the top job at Kvaerner for three years after a long career with ABB where he was one of former chairman Percy Barnevik's most loyal senior executives.
The debts owed to Mr Rokke would be converted into Kvaerner shares at a later date, thereby giving him a controlling equity stake in the company, according to the Norwegian newspaper Dagens Naeringsliv.
Quoting former chairman Christian Bjelland who negotiated the Kvaerner pension deal, the paper said that Kvaerner's intention had been that it should only have been responsible for the period after Mr Almskog's ABB career.
Initially, the company had high hopes that a helping hand would be lent by the flamboyant billionaire industrialist Kjell Inge Rokke whose company Aker Maritime controls 18% of Kvaerner's shares, making it the largest single share holder.
Lawrie Smith's crew had been locked in a head-to-head battle with Innovation Kvaerner for the final 30 hours of the stage and the two boats arrived only four minutes apart in Baltimore around 2200 BST on Wednesday.
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