The directors of Lombard Finance did not mislead investors in a prospectus four months before the company collapsed, their lawyer says.
The four directors, including former justice ministers Sir Douglas Graham and Bill Jeffries, sat with family members in the Court of Appeal today as lawyer James Farmer QC argued against their convictions.
Graham and Jeffries, along with fellow directors Lawrence Bryant and Michael Reeves, were last year found guilty of making untrue statements about Lombard's position in its offer documents in December 2007.
Graham and Bryant were sentenced to 300 hours' service and ordered to pay $100,000 reparation, while Jeffries and Reeves were sentenced to 400 hours' community service.
Farmer told the court the directors had not misled investors in the December 2007 prospectus.