The judge overseeing the trial rejected a motion on behalf of Donald Trump's attorneys to postpone the $364 million verdict against the former president and co-defendants in their New York fraud lawsuit on Thursday. Justice Arthur Engoron of the New York Supreme Court signed the decision on Thursday afternoon. As a result, after the court clerk's filing of the necessary papers, Trump will have 30 days to submit a notice of appeal, according to the Washington Post. In an email to Clifford S. Robert, the attorney for Trump, the court said, "You have failed to explain, much less justify, any grounds for a stay."
"You have once again requested more time to submit a proposed counter-judgment, but you have not shown how the Attorney General's proposed decision is flawed. and once again without outlining how your suggested ruling would be different," he wrote.
Trump will need to provide cash or a bond to pay the judgment amount plus an estimated $100 million in interest, which is increasing by around $87,000 per day, in order to file an appeal within the allotted 30-day timeframe. Although enforcement will be suspended while the anticipated appeal is pending, New York Attorney General Letitia James said earlier this week that she would take action to confiscate some of Trump's assets if he was unable to pay the fines, according to the AP.
Professor Gregory Germain of Syracuse University Law tells the AP, "I would anticipate him to declare bankruptcy to take advantage of the automatic stay on collection if he can not post a bond or fulfill the appellate division's bonding standards." However, it is a few chess moves away, so we will have to wait and see.
A $355 million fine for Trump and a $4 million fine for each of his sons, Donald Jr. and Eric, are part of the Engoron decision. For the next several years, Trump and his sons are prohibited from holding executive or director positions with any New York-based business.
"You have once again requested more time to submit a proposed counter-judgment, but you have not shown how the Attorney General's proposed decision is flawed. and once again without outlining how your suggested ruling would be different," he wrote.
Trump will need to provide cash or a bond to pay the judgment amount plus an estimated $100 million in interest, which is increasing by around $87,000 per day, in order to file an appeal within the allotted 30-day timeframe. Although enforcement will be suspended while the anticipated appeal is pending, New York Attorney General Letitia James said earlier this week that she would take action to confiscate some of Trump's assets if he was unable to pay the fines, according to the AP.
Professor Gregory Germain of Syracuse University Law tells the AP, "I would anticipate him to declare bankruptcy to take advantage of the automatic stay on collection if he can not post a bond or fulfill the appellate division's bonding standards." However, it is a few chess moves away, so we will have to wait and see.
A $355 million fine for Trump and a $4 million fine for each of his sons, Donald Jr. and Eric, are part of the Engoron decision. For the next several years, Trump and his sons are prohibited from holding executive or director positions with any New York-based business.
