The South Canterbury Finance trial may extend until August, with further delays caused by debate over the admissibility of evidence.
Former chief executive Lachie McLeod and former directors Edward Sullivan and Robert White face 18 fraud charges at the High Court in Timaru.
In court on Wednesday there has been discussion about the admissibility of evidence.
The issue will be resolved by Justice Heath after arguments by the Crown and defence, which starts on Thursday.
The trial began in March and was initially expected to be finished in June. However, the judge indicated on Wednesday that it may go on into early August.