Terry Serepisos’ mother ordered to pay $332,000 over mortgagee sale of Wellington apartment

By on March 27, 2018
Terry Serepisos' mother ordered to pay $332,000 over mortgagee sale of Wellington apartment

An argument over a Wellington apartment's mortgagee sale has ended in a court judgement that Alliki Serepisos needs to pay up $332,284.88.

But the High Court judgement also notes it is "tolerably clear" that her son Terry Serepisos was her "guiding hand" through the disputed transaction.

Mrs Serepisos was the owner of a Tory Street apartment financed through General Finance. But evidence presented to the High Court shows not one payment was made for the property by the Serepisoses.

In September 2014, General Finance issued a notice to Mrs Serepisos, then began the mortgagee sale process.

General Finance eventually sold the apartment for $580,000 with final settlement on May 3 2016, but took the issue to court over the last of the money not recouped in the sale.

Read the full article by Frances Cook > The New Zealand Herald - nzherald.co.nz



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