Are the Nix in Trouble

[midfielder]

The Dominon Post, [Wellington Paper] is reporting the NZ Tax office has issues order in the courts to put the Nix holding company in Liquidation for unpaid taxes...

Note sure of the amount as there appears to be conflicting stories from 1.5 to 3.5 million in taxes owed.

YF forum threat http://yellowfever.co.nz/forum/forum_posts.asp?TID=14574

Dominon Post story .. http://www.stuff.co.nz/national/4347735/IRD-chases-Serepisos-for-3-5m

Seems to me to be a small amount of money for someone reportedly worth over 100 million dollars...

The club CEO said everything would be paid within 10 to 14 days....

Not to sure what to make of all this ... the paper seems to have gone overboard ... yet there still is a problem...

 

[kevrenor]

November 16, 2010 MEDIA STATEMENT

CENTURY City Football, owner of Wellington Phoenix FC, is confident an outstanding tax liability owed to the Inland Revenue Department will be settled in due course and with minimal impact on club operations. Phoenix chief executive Nathan Greenham said all practicable steps were being taken to resolve the matter in conjunction with Inland Revenue.

“The club is confident that the issue is in hand and will be resolved in the coming weeks. On that basis, it’s business as usual for us and we’re continuing to work hard on and off the field in the Hyundai A-League. “I understand the concerns supporters may have but I would like to urge them to keep the faith and get behind the team. The club and football have a bright future in this country and many, many people have worked hard to make the club as successful as it is. “There is no cause for undue alarm or rash reactions.”

Century City Football is one of five Century City group companies that have been in discussions with Inland Revenue regarding tax liabilities. An arrangement is in place between Century City and Inland Revenue to address the matter before the end of the year.

Notwithstanding this arrangement, Inland Revenue is following normal legal procedure in regards to this liability and Century City is confident the matter will be resolved to the satisfaction of both parties in the coming weeks.
ENDS

 

[dibo]

You're one for the sensational, aren't you MF?

 

[midfielder]

You're one for the sensational, aren't you MF?

HHHHHHHHHMMMMMMMMm

Lets see what I said...

Seems to me to be a small amount of money for someone reportedly worth over 100 million dollars...

The club CEO said everything would be paid within 10 to 14 days....

Not to sure what to make of all this ... the paper seems to have gone overboard ... yet there still is a problem..

Looking for the sensational ...

Or maybe it was how I opened the thread..

The Dominon Post, [Wellington Paper] is reporting the NZ Tax office has issues order in the courts to put the Nix holding company in Liquidation for unpaid taxes...

Note sure of the amount as there appears to be conflicting stories from 1.5 to 3.5 million in taxes owed.

So I report what a leading Fairfax paper says and within a few hours has 7 pages of comment from YF fans ... post both links ... then say ... seems a small amount of money and the CEO says it will be paid within 10 to 14 days...

I may also add it was on Channel One news in NZ ... front and back newspaper stories in the DP... and I said this where ...

I have faults many in fact ... but that I wrote this to cough cough eeerrrr sensationalize the thread ... not from were I stand...

Maybe looking to shot the ...

My actual point is ..""" Are the Nix in trouble""" and I think not given as I said the guy is worth over 100 million and this debt is somewhere between 1.5 & 3 million... BUT was reported by Fairfax's Wellington paper the Dominon Post... were they talked of liquidation ...

Or maybe .... HHHHMMMM EEERRRR cough cough Frank Lowy is being told a thing or two... about FFA suing Fairfax ...

 

[grendel]

It seems to be a regular occurrence for Serepisos to be threatened by creditors - the list in the past has included Hutt City Council, Wellington City Council, Accident Compensation Commission and banks etc. That's how blokes like him operate. I don't know how they can sleep at nights sometimes!

 

[midfielder]

Radio NZ


http://static.radionz.net.nz/assets/audio_item/0006/2433228/mnr-20101117-0747-Fans_say_partial_sale_of_Phoenix_football_club_wont_work-m048.asx

 

[midfielder]

Seepisos answers his critics ..

http://www.nzherald.co.nz/sport/news/article.cfm?c_id=4&objectid=10688198