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
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes