The Fiji National Provident Fund says it hopes to sell part of the Momi Bay resort project after suffering further losses.
The New Zealand finance company Bridgecorp collapsed in 2007 with one of its largest loan exposures being to Momi.
Fiji's interim government promulgated the Momi Bay Resort Decree in June giving control of the property to the Fiji National Provident Fund as secured lender to Matapo Limited, the new borrower and developer.
A spokesman for the FNPF says basic maintenance has been done since work stopped at the resort and around the clock security is in place to protect the assets from pilferage.
Bridgecorp's receivers Pricewaterhouse Coopers say they do not accept the decree and reserve all their legal rights over the property accordingly.