Wellington Phoenix owner meets tax debt

by AP on Apr 19, 2011

0 comments | | print

The owner of the Wellington Phoenix A-League football team has paid an outstanding tax bill to stave off liquidation of his companies, including the one that runs the club.

Property developer Terry Serepisos paid $NZ3.5 million ($A2.64 million) on Tuesday to prevent the government from liquidating Century City Football, as well as four of his other companies.

His debts included back-payments to the Accident Compensation Corporation, a state-run insurer, from income tax deductions on the salaries of Phoenix players.