Kathleen Folbigg has walked free after 20 years in prison, but Monday's pardon falls short of a finding of innocence.
For her convictions to be quashed — Tom Bathurst KC needs to refer the case to the Court of Criminal Appeal.
If that happens, she could potentially sue the New South Wales government for millions of dollars in compensation, or seek an ex-gratia payment.
But Mr Bathurst KC said due to the volume of submissions and evidence to comb through, it will take some time to complete the formal report for the NSW governor.
It means any referral is likely to be weeks or months away, and on top of that the Court of Criminal Appeals process usually takes at least six months to a year.
It is notoriously difficult in Australia to successfully sue the state for compensation over a wrongful conviction.
Unlike other jurisdictions overseas, a person wrongly convicted does not have an automatic legal right to compensation.
They do have the option of launching a civil action to sue the government or police for negligence, false imprisonment or malicious prosecution.
But there are only a few who have succeeded going down that avenue.
A more likely outcome may be an ex-gratia payment from the New South Wales government, which is a one-off payment applied for by someone affected by a wrongful conviction.
In Australia, ex-gratia payments are made purely at the discretion of the state's attorney-general.
This option was famously used in 1992, when the Northern Territory government awarded Lindy and Michael Chamberlain an ex-gratia payment of $1.3 million for wrongful convictions over the death of their baby Azaria.
When asked how much Ms Folbigg could be compensated, Attorney-General Michael Daley said discussing the matter was "getting well in advance of today's story."
For the time being, Ms Folbigg is being cared for by her long-time supporters and friends.
Greens MP and supporter Sue Higginson, said Ms Folbigg would first be enjoying her freedom.
"She's walking, she's outside, she is in the sunshine," Ms Higginson said.
