Prosecutors want the woman fronting a Chinese bid to buy the Crafar farms jailed if she's convicted of charges relating to her former, failed company.
The Companies Office has charged May Wang with not keeping adequate accounting records for her hotel company, the Dynasty Group, and for skipping the country to avoid investigation in 2008.
She denies the charges.
At a hearing in Auckland on Thursday, Ms Wang's lawyer asked a judge to discharge her without conviction, saying she had not acted deliberately.
But the lawyer for the Companies Office said the offending was very serious and they would be recommending a sentence of up to a year in jail.
The judge said he could not discharge Mrs Wang without hearing evidence from her.
Her trial is due to begin in December.