Former National Finance 2000 director Carol Braithwaite has been granted a jury trial, in what is understood to be the first finance company case to be heard by a jury.

Braithwaite, the ex-wife of jailed former National Finance 2000 managing director Allan Ludlow, is set to begin her trial today after Justice Pamela Andrews accepted her last-minute application for a jury trial.

She faces one charge laid by the Financial Markets Authority under the Securities Act, which carries a maximum sentence of five years in jail.

She was due to stand trial with co-accused former director Anthony Banbrook until he made a late guilty plea in June.

Ludlow has already been convicted of charges laid by the Serious Fraud Office and the Financial Markets Authority and is serving a sentence of six years and four months.

National Finance went into receivership in 2006 owing $21 million; secured debenture holders have been repaid 49c in the dollar.

Receivership looms for Orange Finance

Orange Finance is likely to be placed into receivership at the end of the month, according to its owner Doug Somers-Edgar.

The company has been in moratorium for nearly three years after its debenture holders voted for the option in August 2009 instead of receivership.

However, Somers-Edgar said in Orange Finance's latest financial accounts that its trustee, Covenant, was likely to appoint receivers on July 31.

During the moratorium the company has paid out $12.7 million to investors but it still owes $10.3 million, with only $6.8 million in financial assets remaining, most of which is tied up in impaired loans.

''Since 31 March 2012 the market in which the company operates has not improved,'' the accounts stated.

''This is putting continuous pressure on asset values and making it more difficult to exit loans and advances. As a result of this and due to the inherent uncertainty of predicting future events, the director cannot state with absolute certainty that the company's asset values will not deteriorate further.''

Z Energy sets interest rate

Z Energy's seven-year bond issue of up to $150 million will carry an interest rate of 6.5%, the company says.

The petrol company, owned by Infratil and the New Zealand Superannuation Fund, is issuing $100 million of retail bonds and reserving the right to accept an extra $50 million.

This is the company's third such issue; it already has just under $300 million on issue.