Had a drink last night with my old boss - partner at a law firm in wellington, does property and put 2 of Terry's companies in liquidation last week.� Familiar with the situation.� Some scuttlebut - do with it what you will.
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- Terry owes money to pretty much everyone in Wellington, with a controlled sell off the general view is that he's short about $100m.� If someone pulls the trigger though and there is a fire sale it could be a lot worse.� There really is no chance of him getting out with significant assets, although there are assets in family members names which may not go into the sell down.
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- No-one at this stage is interested in bankrupting him, howver patience is running a little thin.� In his words "if Terry keeps flaunting it by driving around town in his ferrari then someone might decide they've had enough".
Pretty sure he doesn't owe me money.