Former theatre mogul Garth Drabinsky is applying for bail less than a month after Ontario's highest court refused to overturn his fraud conviction.

Drabinsky and his business partner Myron Gottlieb were each convicted in 2009 on two counts of fraud related to Livent Inc., the theatre company they founded.

The pair found themselves behind bars in mid-September after a three-judge panel upheld their convictions.

The pair's lawyers had said there would be no effort to seek bail unless the theatre impresarios decided to appeal their rulings to the Supreme Court of Canada.

Only Drabinsky has made a bail application so far. A bail hearing is scheduled for Friday.   

Livent collapsed in bankruptcy in 1998. Drabinsky and Gottlieb were convicted after Ontario court Judge Mary Lou Benotto found that during a nine-year span they manipulated the income reported by Livent.