Former Dominion Finance and North South Finance director Terry Butler has died.

Family said yesterday they were saddened to announce Butler, who had been excused from charges relating to the failed companies, had died at the Mercy Hospice in Auckland's Ponsonby on Thursday.

Butler, who had been facing court action with three other defendants, was excused in late November because he had been diagnosed with cancer.

The Serious Fraud Office trial of three men associated with the collapsed firm Dominion Finance was completed in Auckland last week. The judge has reserved his decision.


Dominion Finance Group went into receivership in September 2008 owing almost 6000 investors a total of $176.9 million.

North South went into receivership in July 2010 owing 3900 debenture holders a total of $31 million.