Serepisos ordered to pay over $2 million
Wellington property developer Terry Serepisos has been ordered to pay the solicitor nominee company of Waipukurau law firm Davidson, Armstrong and Campbell more than $2 million.
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Wellington property developer Terry Serepisos has been ordered to pay the solicitor nominee company of Waipukurau law firm Davidson, Armstrong and Campbell more than $2 million.
In the Wellington High Court this morning Associate Judge David Gendall granted the company's summary judgment application against Mr Serepisos of $2,023,170.05c plus costs of $2,436.90c.
He made a further order against Mr Serepisos of penalty interest at a rate of 16%, which amounted to $764.05c a day.
The application was first heard by Associate Judge Gendall on July 18, when Mr Serepisos' lawyer, Chris Chapman, said it would not be opposed.
Neither Mr Chapman nor Mr Serepisos appeared in court today.
Earlier, there was better news for the embattled businessman.
Liquidation proceedings brought by Tyco NZ against his company Century City Courtenay were discontinued after the debt in question was settled.
Colin Williscroft
Mon, 01 Aug 2011
Mon, 01 Aug 2011
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Serepisos ordered to pay over $2 million
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