Trump's lawyers want the court to hold off collection, without requiring him to post a bond, while he appeals the outcome of his recent civil fraud trial.
New York State Attorney General Letitia James asked for former President Donald Trump to be penalized $370 million and barred from New York's real estate indsutry Friday. Former President Donald Trump's lawyers kept pressing an appellate court Thursday to excuse him from covering afor now, saying he'd suffer "irreparable harm" before his appeal is decided.
It's the latest in a flurry of arguments and counterarguments that Trump's attorneys and New York state lawyers are making ahead of Monday, when statecan start taking steps to collect the massive sum — unless the appeals court intervenes. A judge ruled that Trump, his company and key executives deceived bankers and insurers by producing financial statements that hugely overstated his fortune. The defendants deny the claims.
Appealing doesn't, in itself, halt collection. But Trump would automatically get such a reprieve if he puts up money, assets or an appeal bond covering what he owes.couldn't find anyone willing to issue a bondThey added that underwriters insisted on cash, stocks or other liquid assets instead of real estate as collateral and wanted 120% of the judgment, or more than $557 million. Trump's company would still need to have cash left over to run the business, his attorneys have noted.
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