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.

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