Shannon Stapleton/Pool/Reuters
CNN
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The New York Court of Appeals is scheduled to rule Wednesday afternoon on former President Donald Trump's request to delay a $454 million payment pending his appeal of a civil fraud conviction.
Trump's lawyers have asked him to post $100 million in bail, about a quarter of the outstanding amount, toward sentencing, saying he is prohibited from obtaining loans and cannot access capital markets to raise funds. is suggesting.
Trump's lawyers wrote in a filing that the ruling, without legal authority or factual support, provides approximately $460 million in unprecedented punitive tax cuts and broad permanent penalties for the appellants. “We have ordered injunctive relief.”
The New York State Attorney General's Office opposes the proposal, saying it wants the full amount posted. They said in court documents that Trump is not prevented from receiving bond payments from insurance companies. But one of Trump's lawyers said the bonds require cash, which is a problem.
President Trump has 30 days to post funds to prevent the New York attorney general's office from taking steps to enforce the judgment, including possible seizure of property. It is not yet clear how he plans to finance the payments.
“The urgency of this application arises from the punitive and exorbitant spending restrictions placed on the appellants, the impact of injunctive relief on legitimate businesses, and the vague and overbroad directions issued by the Supreme Court.'' “Given the uncertainty and the Attorney General's public threats, it is clear that she intends to immediately foreclose on Appellant's real property to satisfy the judgment,” Trump's lawyers wrote in a new filing. mentioned in.
In addition to the money, Judge Arthur Engoron also banned Trump from serving as a New York company director for three years and suspended Donald Trump Jr. and Eric Trump for two years. It raised questions about who would run the Trump Organization. . The company currently does not have a chief financial officer or administrator.
The judge also ordered that an independent monitor installed at the Trump Organization starting in 2022 continue in office for an additional three years. He also said real estate companies should have an independent compliance director.
In a letter, New York's attorney general argued that there was no basis for a stay because President Trump could automatically put the judgment on hold if he secured an appeal bond. The attorney general said Trump's legal team has not notified the AG or the courts of any efforts to obtain bail.
The letter states that if Trump fails to post bond or pay the judgment, the audit firm “will be forced to expend significant resources enforcing judgments against defendants' real estate and other assets.” It's dark.
Noting that President Trump has an unpaid $83.3 million judgment in a separate case with author E. Jean Carroll in federal court, the state's lawyers say they are seeking a nearly $460 million judgment in the case. He said he was concerned about collecting the .
They also say Trump has not proven he has liquid funds to cover the judgment.
This story has been updated with additional developments.