As predicted by The Whale:
He went to Zurich to negotiate a $135m loan from controversial lender Western Gulf Advisory with which to restructure his empire’s debts. But sources close to Mr Serepisos say the loan has not come through and he is pinning his hopes on closing a last-minute deal to buy more time.
Even if the Century City companies – Football, Investments, Developments, Hunter Street and Management – survive today’s hearing, Mr Serepisos’s troubles are far from over. He is also fighting attempts to collect more than $10m from him personally, some of it the subject of disputed bankruptcy proceedings.
Terry Serepisos has been stung. He is a Mugu.