Lombard directors pay up

Sir Douglas Graham (Photo: 3news.co.nz)

Convicted former Lombard Finance directors Sir Douglas Graham and Lawrie Bryant have met the deadline to make $100,000 reparation payments.

Both men had until 5pm yesterday to pay the reparation into Wellington High Court, and this was done, a court official confirmed to NBR ONLINE. 

In March, Bryant and Sir Douglas, godfather to Bryant's government spin-doctor son Nicholas, were sentenced along with fellow directors Bill Jeffries and Michael Reeves for their part in the collapse of the finance company in 2008.

As well as being ordered to pay reparation, company chairman Sir Douglas and Bryant, a former royal spin doctor at Buckingham Palace, were sentenced to do 300 hours' community service.

The Financial Markets Authority is appealing the non-custodial sentences handed down to the former directors, while the directors are also appealing their convictions.  

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11 Comments & Questions

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So you didn't lose any money then!!!!

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so did they pay it?

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Read the first sentence slowly...

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These guys will continue to "cost" us with their protracted litigation so the $100,000 is just a mere drop in the bucket.

Maybe their community service work should include working with Maori in prison seeing as Doug Graham said something about being "teary" re the bad deal Maori had had, got during treaty negotiations as then Minister.

Lip service is cush/non demanding - he should seek redemption via doing good like John Profumo who devoted his life after his "fall" to helping the disadvantaged.

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Huh?! Wishful thinking, that Dougie would show penance of Profumo-esque proportions. He doesn't have it in him.

He's more the "Woe is me" type variety. Subsumed by self-remorse, which gushes forth from the fountain of his conceit.

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I do apologise for my poor spelling/grammar etc...my vision is bad.

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no problem for sir duggie - he would have just felt down the back of the couch.

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Beck and Jasper,grow up!!These guys did nothing wrong,despite the findings of a lightweight,non commercial judge Dobson.His view of what they should have said in the prospectus is no better than what was actually said.In fact his proposed words are pin pricking.

This was an overly cute case,involving a mere $10M,and legal issues that were cute and arguable either way.

To continue to pillory these guys says much about your ignorance.And the FMA appealing the sentences is equally pathetic.

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"These guys did nothing wrong,..."

Nah, of course they didn't. Maligned saints, they were. Just misunderstood.

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Did nothing wrong? what planet are from?

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1: Any idea how much each director was paid in fees?
2: What happened to the money? Surely the finance company didn't lend it at high interest rates to people who didn't repay their loans?

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