The Government won't decide whether to strip Sir Douglas Graham of his knighthood, until the Supreme Court rules on an appeal against his conviction.
The Court of Appeal last month rejected a bid by Sir Douglas and three other former directors of Lombard Finance to have their convictions for making false statements in a company prospectus overturned.
Lombard Finance collapsed in 2008, owing 3600 investors more than $111 million.
Prime Minister John Key has been taking advice on whether to revoke Sir Douglas's knighthood, but says that process is now on hold.
Sir Douglas is a former Minister of Justice and was knighted for his service in facilitating Treaty of Waitangi settlements.
