How is that loan coming along Terry?

Not looking good if the NBR is anything to go by:

Controversial lender Western Gulf Advisory and its founder Ahsan Ali Syed have defaulted on payments related to the purchase of Spanish Racing Santander football team, triggering moves to strip Mr Ali of ownership.

WGA took control of the football team in early February with part of the deal involving taking over the €6.7 million debt owed by the club to the local government. While the first €2 million payment was made, the second payment’s deadline of Friday was missed, Bloomberg reported.

WGA and Mr Ali’s lending practices – charging millions in upfront fees for undelivered loans – have come under enormous scrutiny in New Zealand and Australia.

Wellington developer Terry Serepisos is waiting for a $US100 million loan from the lender, and last week NBR broke the news another New Zealand “borrower” has contracted a former police detective to look into WGA.

Looks like Ahsan Ali Syed go chop your dollar Terry.


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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