"I have no doubt an application will be filed shortly," he told the Herald yesterday.
It is understood that the total defence costs for all the accused is north of $1 million.
• Previous acquitted defendants in Serious Fraud Office trials have had success in getting costs.
In 2007 the Supreme Court reinstated a costs award for four acquitted Digi-Tech defendants and at the time the payout was believed to be in the region of $1 million.
The SFO took action against the Digi-Tech four in 2004, alleging their scheme was a "legitimate, if marginal, tax scheme" rendered a fraud by fictional insurance and loan transactions. The scheme offered tax-deductible expenses during its 10-year life with the bulk of the investment paid in the last year.
Up to 75 loss-attributable companies were set up by investors.
The two parts of the scheme involved technology company Digi-Tech and a company called New Zealand Investments Ltd.
Investors were to buy $1 million of shares over 10 years, but pay more than 80 per cent in the last year.
They took out insurance, with premiums mostly paid with tax-deductible borrowed money, guaranteeing the shares would be worth $3 million at the end of the period.
In 2004, the four defendants - John Reid Peter Connolly, John Currie and Peter Russel - were each found not guilty on two counts of fraud. Reid, Currie and Russel were also cleared on various money laundering charges.
