Wellington lawyer and businessman attempts to avoid bankruptcy with Inland Revenue in High Court proceedings.
Two people have pleaded not guilty to charges in the Auckland District Court.
A2 Milk said to be the target, but major instos say they haven't been approached.
Director Zhongyang Meng and accountant Jiashun Qian had accepted FMA allegations.
The hotel developers succeeded in keeping the contractor on the Companies Register.
The sale price for the luxury resort in Taupō had not been disclosed.
Claim follows losses of $80m for investors.
Ads incorrectly claimed its investors could retire with up to 20% more than average KiwiSaver.
Liquidators' evidence in Mainzeal Supreme Court case begins.
Ruling follows settlement with creditor and shareholder.
