5year maximum term imprisonment or $300k fine, page-3

I found this old article re tax owed and creditors support and solvency a good little memory refresher.

http://www.stuff.co.nz/sunday-star-times/business/4140385/Court-grilling-reveals-MFS-overdue-tax

19/09/10

one part states
" Directors Jason Maywald and David Anderson signed the directors' certificate for the prospectus extension, asserting that there had been no material and adverse changes in the finance company's financial position, and that the prospectus was neither false nor misleading.

Bell asked Korda if it was likely on the $A200m shortfall that MFS was insolvent. "If you don't reschedule the debt, then based on those numbers, yes," Korda said.

MFS's claim to solvency was at that point based on the expectation it would get agreement from five major creditors on a debt standstill and debt forgiveness. The court heard how Korda continued to inform the board that the company was solvent. "continues

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I am not sure if this article is relavent to the legal proceedings mentioned above but is worth a read anyway,imo.