A celebrity real estate salesman is begrudgingly paying back a whopping $160,000 in
commission to Queenstown’s biggest apartment developer.
Former Location, Location, Location star Michael Boulgaris (above) initially planned to fight an Employment Relations Authority ruling to repay $163,635 in unearned commission plus interest to Wensley Developments.
However, Boulgaris – who spent a year as Wensley sales manager before resigning in March 2005 – says he “recently” agreed not to oppose the ruling.
“I just agreed to settle in full and we worked out our terms confidentially.”
Boulgaris was paid $535,000 in advance commission but only earned $339,990 whilst at Wensley Developments – which went into liquidation last month.
Boulgaris’ lawyers claim in a letter he didn’t owe any money as Wensley Developments misrepresented what he would earn, The Press reported in January.
The ERA’s Leon Robinson says in his ruling he found no merit in Boulgaris’ argument.
Ross Wensley, boss of Wensley Developments, wouldn’t discuss the settlement.
“Our agreement says that I can’t.”
Boulgaris, now back in Auckland, once vowed never to return to Queenstown but says he’s philosophical about his time here.
“I made some good friends. I learned to ski. I learned what a good time was.
“I’d spent my whole life as a bit of a nerd and a workaholic so Queenstown was good spiritually but it left a sour taste in my mouth because of [the fees row].”