Thursday 16th December 2010 |
Text too small? |
Prominent Auckland property developer Andrew Krukziener has declared himself bankrupt.
Krukziener had been fighting an Inland Revenue Department attempt to make him bankrupt but he gave up the battle this week.
He made the bankruptcy declaration to the Official Assignee about midday yesterday and it was confirmed in the High Court in Auckland today.
It follows an offer last month by Krukziener to offer $350,000 to his creditors for a debt of about $47 million.
Eighteen of his 22 creditors agreed but the Inland Revenue Department strenuously opposed the scheme.
It claimed Krukziener owes it more than $6m in taxes. Mr Krukziener disputes this figure.
Krukziener did not appear in person today but his lawyer Bruce Stewart said his client had resigned himself to the fact he could not get permission from the IRD for his proposal.
"In the absence of that accommodation the outcome was inevitable so he's started the process rolling and just wants to get on with it," Stewart said outside court.
NZPA
May 12th Morning Report
PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer