'Unpaid' loan of $152,000 to Terry Serepisos now worth $2.5 million

Ex-Wellington Phoenix owner is being asked to repay loan. (Image: NZME)

Mon, 22 Apr 2024

In 2018, property developer Terry Serepisos borrowed $152,500 from an Auckland company. That sum has ballooned to around $2.5 million in nearly six years, and the lender wants it repaid.Gumdigger Limited is seeking a summary judgement from the high court in Wellington on whether Serepisos is legally bound to repay the loan. Serepisos’ lawyer is arguing the dispute should go to full trial.The court heard that Serepisos took out a three-month loan of $115,000 on Aug 24, 2018, including a $15,000 set up fee, from Gumdigger. On Nov 2 that yea...

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