At Auckland today Lawyers on behalf of anxious property developer Andrew Krukziener and his creditors were in the High Court to converse details of a three-day hearing to be held subsequently month and that will conclude whether he will be bankrupted or not.

Inland Revenue has case a bankruptcy application aligned with the well-known Auckland property developer but Krukziener is silent trying to sew up a deal collectively with his creditors that would prevent bankruptcy and see them paid out.

The exact amount in the dollar is not confirmed which is offered by Krukziener to his creditors.

However, the deal has to be consented by the court but a hearing on the matter could seal the deal which would save the earlier rich luster from bankruptcy. The hearing is scheduled for November 18.

The IRD's bankruptcy hearing was set on frost in anticipation of another case also relating the IRD was resolute.

In November 2009, in fact the Taxation Review Authority disputed that loans of $5 million which was paid to Krukziener between 1991 and 2002 from his trusts should be reviewed as income.