Peter Dowell, who is the director of Playmaker Labs, is also being pursued for $50,000 in a separate legal matter.
Watson entity had refused hive placement.
Regulator says $1.89m fine not enough, Steel & Tube says the opposite.
The case has racked up $7.5 million in fees for lawyers, liquidators and consultants.
Bublitz's lawyer begins his closing in long-running case.
Court case over bullion settled.
Yan only director with substantial means, court hears.
Brian Ellis will appeal.
Previous disputes over convertible notes have been settled.
Judge removes confidentiality orders.
