WELLINGTON, New Zealand (AP) — 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 NZ$3.5 million (US$2.8 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.
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