I go chop your dollar, Ctd

It’s official Terry Serepisos has been declared bankrupt.

Wellington businessman and former Phoenix football owner Terry Serepisos has been declared bankrupt in the High Court at Wellington this morning.

The property developer owes creditors $203 million and had been selling his assets to try to meet his large debts.

Serepisos has offered an orderly sale of a $232.5m property portfolio to try and meet the millions of dollars of debt but creditors reportedly have not yet decided whether the proposal is acceptable.

I wonder if The Apprentice still has his job?

I guess the law suitĀ againstĀ me is off too.

  • michaels

    About bloody time.
    Now Sir Bob can sneak in and buy his assets on the cheap..

  • Coventry

    Ahhh that just made me smile.

  • oldlogger

    For anyone out there in the “Terry’s a great bloke, we need more entrepreneurs like him” camp.
    Have thought to all those small businesses he buggered, so he could lead the high life.
    “look at me, look at me, I own a footy team!”
    Too bad about the painters, electricians, plasterers etc etc, that will never see a cent.
    He lived the high life on their money. PRICK!

  • middleagedwhiteguy

    I wonder what the effect on Wellington Property values will be when 150 properties go for mortgagee sales at the same time?

  • Agent BallSack

    I often wonder how many time Bob Jones was that close to losing everything but being protected by the old boys network and not being affected by instantaneous news transmission was given a second chance by the skin of his teeth (and maybe the fear of journos of not wanting their teeth punched in).
    As for (Michael) Fay buying the Crafar farms the guy should be publicly pilloried not given another stab at the cake. Sorry about the segue.

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