million was either invested or re-invested between late December 2007 and just before the firm's receivership in April 2008 when the offer documents were available. A total of $125m was owed to 4400 investors. "The primary focus is to get as much as we can back for investors," Fisk said. The focus of a civil claim would be on breaches of the Companies Act and directors' duties. Any action would be co-ordinated with the Financial Markets Authority, which has a civil case pending the outcome of the criminal trial. FMA chief executive Sean Hughes said the watchdog was considering the sentences, especially the amount of reparation ordered. "We also note some of the former directors have previously indicated they may appeal. Both of those issues will impact on the timing of the civil claim." The directors held personal liability insurance policies that could be claimed on, "so we will be considering that as part of this process", he said. He could not say how much the policies were worth. The FMA also has the power to seek to access trusts. Since last December, the co-owner of failed Hanover Finance, Mark Hotchin, has been subject to asset-preservation orders sought by the FMA, freezing valuable property held on his behalf through various trusts, including a mansion in Auckland's Paritai Dr and a beach house on Waiheke Island. Fisk said Graham did not have a reported $2m invested in Lombard Finance. You must spend much more to experience all these. On the other