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 suitÂ againstÂ me is off too.