Serepisos confirms WGA dealings, wants to sell Phoenix too
Embattled property developer Terry Serepisos has confirmed NBR reports he is hoping for a large loan from Zurich-based Western Gulf Advisory to pay off litigious creditors.
Mr Serepisos told the Dominion Post he had been working with WGA for five months and was now glad to talk about the proposed deal: "It's my time to be able to hit back and tell people what's going on ... I have been hit, hit, hit, by all these small people who want to pull me down. I've had enough of it," he said.
He was "100 percent confident" the deal would proceed and also said he was in talks with the Indian-born WGA founder Ahsan Ali Syed to sell him half of Wellington Phoenix FC.
Mr Ali told the Dominion he rejected the judgment of a senior Auckland lawyer reported in the NBR that WGA's loan documentation had resembled the literature of "Nigerian scams".
"We have recently taken an office in Amsterdam. We will open that office shortly, so we are expanding. I don't think Nigerian scamsters expand," he said.
NBR first reported Mr Serepisos was dealing with WGA two weeks ago.
Signup to free NBR email alerts here
Back to home
Back to top
Print
Email
Share
Delicious
Digg
StumbleUpon
Reddit
Google
Yahoo
Technorati
Scoopit
NBR SERVICES
SUBSCRIPTIONS
Sign up for NBR subscriber content or email alerts
Latest
Comments and questions17
Change the headline please - the deal involves 50% of the phoenix. Terry is not selling the whole club.
Terry, my son, pull your head in from outta the clouds -- it's not gonna happen. On the Continuum of Hope, you're somewhere between delusion and denial.
What are you creditionals ML?
Who are "all these small people"
Oh, the people that he owes money to ?
What is a "creditional"?
"I have been hit, hit, hit, by all these small people who want to pull me down. I've had enough of it" - well if you paid your creditors before they had to resort to going to court maybe you wouldn't feel attacked. I'm sure they have all had enough of it too!
Maybe Terry should talk to Blackburn Rovers about their dealings with WGA and Ahsan Ali Syed - check this link out:
http://www.bbc.co.uk/news/business-11163004
AB. I think ML's credentials are that they seem to be dealing in reality.
Comments in other media suggest this deal will allow a stepping stone for Phoenix players into La Liga - this is absolute pie in the sky talk - no NZ player is in this league and by the by - how the hell can Terry afford to set up offices in Amsterdam - is he getting ready to fly the coop?
Terry, ML has offered you some very good advise. Take it its free. You don't have to pay $thousands to secure a good interest rate, the advise is free.
The moral of this saga will be, Desperate people do desperate things, and they will continue to do desperate things (selling mums home to the bankers) until there is nothing left, all hope vanished, all flickers of life exhausted.
Terry, much as I love the Phoenix and what enjoyment they have brought to countless thousands of fans, your business empire was build on leverage an other peoples money and it is being shown up for what it is, a house of cards built on sand. Time to pay up.
Arrogance at its best
Quote: "It's my time to be able to hit back and tell people what's going on ... I have been hit, hit, hit, by all these small people who want to pull me down. I've had enough of it,"
This would make me absolutely furious if Terry owed me money! (he doesn't - I just hate his attitude) Is this a direct quote?
Terry they may be small businesses but the way you have phased this comment is very insulting. 90% of NZ is small business operated. In future pay your debts on time.
Don't borrow beyond your ability to service your debts. Most Kiwi's stay within their limits - why don't you?
Yes Terry, we the general public and "small people" as you refer to us, who object to your business practices ie don't pay your creditors, stringing everyone out, putting honest contractors under pressure, not paying your interest, PAYE, ACC.
You have done it for too long. You blame everyone else and your arrogance is appalling.
So Terry uses other peoples money to pay millions to Football Federation Australia to run a team of Australians out of Wellington and, in the process, destroys our own national league full of Kiwi players (you know, the types that are actually elligible to play for the All Whites). Bravo Terry! Bravo!
Terry was "100 percent confident" the deal would proceed"
I guess he has not looked at this website yet! http://westerngulfadvisory.net/. If it walks like a duck...
Terry come out of the ego world you live in and to the realy that all those small people live in.
First class flights, why is this nececcary, why not give the money to people you owe.
Karma comes and bits you so quickly and it will hurt harder than anything you know.
http://www.smh.com.au/business/30m-gone-jetsetter-accused-of-having-a-lend-20110302-1bexw.html
Post new comment or question
To share this article, click on a service below