Another $2 million of debt has been added to the slate of Terry Serepisos, the owner of the Wellington Phoenix football team.



In the High Court at Wellington today, a Waipukurau lawyers’ nominee company formalised the debt he personally owes it.



Associate Judge David Gendall entered judgment of $2,023,170.05 against Mr Serepisos for the Davidson Armstrong and Campbell Solicitors Nominee Company Ltd.



The sum is now also gathering penalty interest of 16 per cent.



Solicitors nominee companies are a way for investors to pool funds for lending.



The judgment could be used later as the foundation for a bankruptcy application.



Earlier in the day it was announced that one of Mr Serepisos’ companies, Century City Courtenay, had satisfied the claim of Tyco NZ who had been trying to put the Century City company into liquidation over a debt believed to be about $6000.

Mr Serepisos has been battling financial issues within his Century City group of companies for more than a year during which time he has faced a number of court actions.



They included moves in November to liquidate five Century City companies over unpaid tax and ACC of nearly $4m.



That amount was repaid in a deal that subsequently lead to Mr Serepisos losing ownership of his flagship Century City Hotel in Tory St.



Mr Serepisos announced in February that he was restructuring his Century City companies and that he was close to receiving a US$100 million loan from Bahrain-based Western Gulf Advisory, owned by Indian-born Ahsan Ali Syed.



The loan has not yet eventuated but Mr Serepisos has remained steadfast in his belief that it would arrrive.



However, WGA bank accounts in Bahrain were frozen a couple of months ago by Australian businessmen who claimed Mr Ali had scammed them out of AUS$100m.



The Dominion Post revealed last week that two Swiss bank accounts belonging to WGA had also been frozen by Auckland-based McNabb Group Properties.



MGP claimed that WGA took NZ$1.1m in fees for a US$50m loan which never evenutated. But when they asked for their fees to be returned, as stipulated in the loan contract, WGA did not hand them over.



A private investigator used by McNabb convinced the Swiss banking authorities to freeze the accounts. A criminal complaint was also lodged.