A couple of points I would like to add to this debate if I may. I have just read the article https://www.stuff.co.nz/business/money/5562843/Doubts-raised-over-value-put-on-Serepisos-property I there are two things that don't sit right with me.
"Multiple commercial property and finance market sources believe Mr Serepisos would struggle to get $60m from the sale of his commercial property, leaving a shortfall of $172m.
The sources said there was no way the remaining 150 or so residential properties Mr Serepisos owns would fetch an average $1.146m each to make up the shortfall."
[/QUOTE]
"The sources said Mr Serepisos was caught in a vicious circle from which he was unlikely to escape. As property prices fell and more creditors demanded their money, his cashflow dried up as his developments failed to sell.
Because he lacked the money to spend on maintenance or remedial work, more tenants left, as did staff who were paid late.
The sources said Mr Serepisos repeatedly made the mistake of being reluctant to accept offers from buyers in a depressed market, instead holding out for higher offers that have not materialised."
Who are these "sources" that you do not wish to name?
[QUOTE=DoomPost "Reporter" who wrote this article...]
"- The Dominion Post"
Once again the lack of a name makes me suspicious!
While I don't believe that everything is bliss with Terry's finances I do think that if a publication is prepared to print stories about this subject they should be factual and honest, both of which seem to be missing from this article.
"Multiple commercial property and finance market sources believe Mr Serepisos would struggle to get $60m from the sale of his commercial property, leaving a shortfall of $172m.
The sources said there was no way the remaining 150 or so residential properties Mr Serepisos owns would fetch an average $1.146m each to make up the shortfall."
[/QUOTE]
"The sources said Mr Serepisos was caught in a vicious circle from which he was unlikely to escape. As property prices fell and more creditors demanded their money, his cashflow dried up as his developments failed to sell.
Because he lacked the money to spend on maintenance or remedial work, more tenants left, as did staff who were paid late.
The sources said Mr Serepisos repeatedly made the mistake of being reluctant to accept offers from buyers in a depressed market, instead holding out for higher offers that have not materialised."
Who are these "sources" that you do not wish to name?
[QUOTE=DoomPost "Reporter" who wrote this article...]
"- The Dominion Post"
Once again the lack of a name makes me suspicious!
While I don't believe that everything is bliss with Terry's finances I do think that if a publication is prepared to print stories about this subject they should be factual and honest, both of which seem to be missing from this article.
Im sorry bro, not sure if you are trying to make a joke here or not (knowing some of your previous work!), but if you dont want to name the source of your information then you would take ownership of the news article.
I have sources that give me some knowledge of what is happening, but that doesnt mean im going to name them. I just hope we come through the next few weeks and into a stronger, clearer position that allows us to just enjoy the football. Im over this speculation and just want to get back into supporting the club
Reporter is Phil Kitchin