Applications to liquidate companies owned by Wellington developer Terry Serepisos have been adjourned until early next year.Inland Revenue applied to liquidate five of Mr Serepisos' companies in October, including Century City Football, which owns the Wel
Applications to liquidate companies owned by Wellington developer Terry Serepisos have been adjourned until early next year.
Inland Revenue applied to liquidate five of Mr Serepisos’ companies in October, including Century City Football, which owns the Wellington Phoenix.
The debt claimed by the IRD is understood to be about $3.58m.
In the High Court in Wellington this morning, the IRD sought an adjournment until early next year to allow settlement negotiations between parties to continue.
ACC, also owed money by Mr Serepisos' companies, supported the adjournment.
Associate Judge David Gendall granted an adjournment until 25 January 2011.
