Krukziener facing bankruptcy

Controversial property developer Andrew Krukziener, who has told media in the past that he believes the Inland Revenue Department had treated him unfairly, is facing bankruptcy because of an unpaid tax bill.

Yesterday Inland Revenue published in the New Zealand Herald public notices that it was applying to bankrupt the developer over $575,000 that was due on 3 June.

Mr Krukziener is known for his work on the Metropolis Tower in which investors lost more than $20 million and the ex-Fisherman’s Wharf site at Birkenhead known now as The Wharf which he had upgraded lavishly and now operating as a function space. It was put on the market earlier this year but remains unsold.

Many of his companies are in liquidation including AK Oriental which IRD claimed he owed $700,000 in tax for earlier this year.

In the High Court at Auckland in February, Justice Patricia Courtney said until Mr Krukziener repays Hanover Finance the $6.9 million it claims it is owed, he will be charged 18% monthly compounded interest backdated to 2006.

More companies of Mr Krukziener’s have been transferred to the name of his wife Gitta Saidi.

Mr Krukziener has until 26 November to pay up.