Published 4 April 2012
Bankrupt Auckland property developer Andrew Krukziener & his wife’s Fijian development property at Sovi Bay has been put up for mortgagee sale.
The receivers of Strategic Finance Ltd, John Fisk & Colin McCloy (PWC), have taken the property to tender through Bayleys agents Michael Pleciak & Philip Toogood, closing Thursday 10 May.
The 11ha property is on the Coral Coast on Fiji’s main island, Viti Levu. It sits on 2 freehold titles between its ocean beach frontage and Queens Rd (the Suva-Nadi Highway), 15km from Sigatoka and 80km from Nadi International Airport.
Mr Krukziener formed his Sovi Bay development company in 2001 and had proposed a $40 million luxury 20-bure boutique resort, a 72-room hotel and 31 residential beachfront lots. The Official Assignee has filed only one report since being appointed liquidator in June 2010. It discloses a $12.4 million claim by Strategic.
Mr Krukziener filed for bankruptcy in December 2010, conceding defeat in a long-running battle with Inland Revenue. By then, his wife, Gitta Saidi, was the director of a long list of property companies Mr Krukziener had previously headed, including this one.
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Attribution: Property ad, Companies Register, story written by Bob Dey for the Bob Dey Property Report.