NY Appeals Court ‘Temporarily’ Postpones Dissolution of Trump’s Nearly $1.2 Billion Worth Empire
A New York appeals court judge on Friday, in a ground-breaking move, denied Donald Trump's request to suspend the $250 million civil fraud trial, but temporarily postponed the dissolution of the former president's businesses. As per the Daily Mail, to stop Judge Arthur Engoron from enforcing his decision from last week, which revokes the Republican front-runner's business licenses and places a court-appointed receiver in charge of his companies, Trump's attorneys had requested the state's intermediate appellate court to suspend the trial in New York Attorney General Letitia James' lawsuit.
Taking the companies "will unquestionably inflict severe and irreparable harm, not only on Trump and other defendants but employees and others 'who depend on the affected entities for their livelihoods," Trump's lawyers had argued. The companies are 'suspended in uncertainty and ostensibly can no longer pay their employees,' and the status of any New York bank accounts or property they maintain is unclear, Trump's legal team had stated in their argument.
Associate Justice Peter H. Moulton, the appellate judge, received a statement from Trump attorney Christopher Kise on Friday: "This is a massive error. It is irreparable." According to Kise, the decision would cause defendants in other cases to fear that their businesses and assets would be seized without due process. "We're not seeking a delay. We're seeking a fair trial," he stated.
As per CNN, following a brief hearing on Friday afternoon, Associate Justice Peter Moulton handed down the decision. It gives the former president and his family some hope while preserving Trump's empire for at least another month. According to a Fortune article, $1.2 Billion.
Meanwhile, the Trump Organization expressed gratitude to the appellate court that granted the stay in a statement: "The NY Attorney General's and Judge Engoron's overzealous attempt to cancel our New York business certificates. Judge Engoron's order erroneously sought to adjudicate the rights of non-party business entities that employ nearly 1,000 hard-working New Yorkers, have never been accused of any wrongdoing and were never given their day in court – in clear violation of their fundamental Constitutional rights and Due Process," the statement read. "We will continue to vigorously defend our company and our incredible employees from this gross overreach and politically-motivated persecution," it continued.
“We are very pleased the First Department upheld New York law and put a halt to any cancellation of business certificates, receivers, or dissolution,” Kise said following Friday’s ruling. “The trial court’s attempt to reach issues, entities, and assets beyond the scope of this case has been suspended.” Trump's team was slammed by the attorney general's office for delaying filing the stay request until days into the trial testimony. “And tellingly, they waited until after Trump decided to stop attending the trial,” the letter says. Trump returned to Florida after the first three days of the trial. “If the trial here is delayed at all, there is a significant risk that defendants will request further delays of trial based on the deadlines in these other cases. Indeed, defendants already appear to be attempting to play one court against the other,” the motion reads.
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