Embattled Auckland property developer Andrew Krukziener gave up a 10 year battle against Inland Revenue when he yesterday put himself into voluntary bankruptcy.

Mr Krukziener (pictured) surrendered himself to the Official Assignee in Auckland shortly before noon on Thursday, his lawyer Bruce Stewart QC disclosed this morning.

Mr Stewart told NBR that Mr Krukziener's fight to satisfy creditors had now proven "too much" for him and he "could not handle it any longer".

Andrew Krukziener’s High Court bankruptcy battle has been cut short after a surprise move by the property developer over the weekend. But he is not out of the woods yet.

Mr Krukziener, $45 million in debt, has withdrawn his application for High Court approval of his $350,000 creditor repayment plan.

The hearing, which began on Thursday, was due to continue today for conclusion tomorrow.

Andrew Krukziener’s date with creditors has arrived.

The Auckland developer, $47 million in debt, is expected to give evidence at the High Court at Auckland today as seeks to avert bankruptcy.

Auckland property developer Andrew Krukziener has failed in his appeal against a Taxation Review Authority ruling that $5 million of loans were taxable income.

Mr Krukziener, who is best known for building the Metropolis skyscraper in central Auckland, has been in a long-running battle with the taxman over his commercial activities.

Between 1991 and 2002 he operated through a group of companies and trading trusts, completing a number of successful developments but receiving only a modest salary.