My same source, who is reasonably connected into the commercial property market in NZ has said that Terry is effectively insolvent and has been for months and he can't quite understand how he has managed to keep his head abve water.[/QUOTE]
[QUOTE=james dean today]If you talk to people in the property industry the general view is that Terry does not have a business to restructure...i.e. he is close to insolvency.
[QUOTE=james dean today]If you talk to people in the property industry the general view is that Terry does not have a business to restructure...i.e. he is close to insolvency.
So two months ago he was insolvent but today he is only "close to insolvency". Well at least he seems to be moving in the right direction!
Is JD's "source" related to the source who told Michael Brown from the Herald that Terry was "gone for all money" and would run out of wages money in two weeks... four weeks ago? Gossip is not reliable, especially about such a polarising figure as Our Greek Leader. Many people in the property business no doubt want Terry to go bust.
I have no freakin' clue about whether Terry's going to go broke or whether he's restructuring successfully. Generally, with intrepid sleuths such as Burgess and Nipples on the case, I assume that if there really is bad news for Terry on the way they will break it. They haven't, so I will chillax in the absence of evidence. (Burgess had that thing about Giltrap but I think he was reporting John Morrison rather than breaking a story himself.)