Court agrees to block collection of Trump's massive civil fraud judgment if he puts up $175M [View all]
Source: AP
Updated 1:09 PM EDT, March 25, 2024
NEW YORK (AP) — A New York appeals court on Monday agreed to hold off collection of former President Donald Trump’s more than $454 million civil fraud judgment — if he puts up $175 million within 10 days.
If he does, it will stop the clock on collection and prevent the state from seizing the presumptive Republican presidential nominee’s assets while he appeals. The appeals court also reversed other aspects of a trial judge’s ruling that had barred Trump and sons Eric Trump and Donald Trump Jr., the family company’s executive vice presidents, from serving in corporate leadership for several years.
In all, the order was a significant victory for the ex-president as he defends the real estate empire that vaulted him into public life. The development came just before New York Attorney General Letitia James, a Democrat, was expected to initiate efforts to collect the judgment.
Trump, who was attending a separate hearing in his criminal hush money case in New York, hailed the ruling and said he would post a bond, securities or cash to cover the $175 million sum in the civil case. Speaking in a courthouse hallway, Trump revisited his oft-stated complaints about civil trial Judge Arthur Engoron and the penalty he imposed.
Read more: https://apnews.com/article/trump-civil-fraud-case-verdict-penalty-appeal-8447c48d0436083737204b13401438d2
Article updated.
Previous article/headline -
Updated 11:30 AM EDT, March 25, 2024
NEW YORK (AP) -- A New York appeals court on Monday agreed to hold off collection of former President Donald Trump's $454 million civil fraud judgment -- if he puts up $175 million within 10 days. If he does, it will stop the clock on collection and prevent the state from seizing the presumptive Republican presidential nominee's assets while he appeals.
The development came just before New York Attorney General Letitia James was expected to initiate efforts to collect the judgment. Messages seeking comment were sent to James' office and to Trump's lawyers. Trump's lawyers had pleaded for a state appeals court to halt collection, claiming it was "a practical impossibility" to get an underwriter to sign off on a bond for such a large sum.
The ruling was issued by the state's intermediate appeals court, the Appellate Division of the state's trial court, where Trump is fighting to overturn a judge's Feb. 16 finding that he lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
After James won the judgment, she didn't seek to enforce it during a legal time-out for Trump to ask the appeals court for a reprieve from paying up.
Original article -
NEW YORK (AP) -- A New York appeals court on Monday agreed to hold off collection of former President Donald Trump's $454 million civil fraud judgment -- if he puts up $175 million within 10 days.
If he does, it will stop the clock on collection and prevent the state from seizing his assets while he appeals.
The development came just before New York Attorney General Letitia James was expected to initiate efforts to collect the judgment.
Earlier this week, Trump's lawyers pleaded for a state appeals court to halt collection, claiming it was "a practical impossibility" to get an underwriter to sign off on a bond for such a large sum.
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