Trump loses bid to stay NY fraud trial, but gets delay of business certificate cancellations

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The ongoing trial is dealing with a $250 million lawsuit against Trump, the Trump Organization, his two adult sons, and top company executives.

But the court did halt a judge's order that cancelled the business certificates of Trump's companies.New York Attorney General Letitia James had opposed halting Trump's trial pending his appeal of a judge's pre-trial ruling that he was liable for business fraud in the case. But she did not oppose Trump's request that the judge's related ruling, which cancelled an array of corporate business certificates, be stayed pending the outcome of the appeal.

The ongoing trial is dealing with James's $250 million lawsuit against Trump, the Trump Organization, his two adult sons, and top company executives. Christopher Kise, Trump's lawyer, in a statement said,"We are very pleased the First Department upheld New York law and put a halt to any cancellation of business certificates, receivers or dissolution. The trial court's attempt to reach issues, entities and assets beyond the scope of this case has been suspended."

Friday's ruling staying the cancellations but allowing the trial to resume came from a justice in the appellate division that handles case arising out of Manhattan Supreme Court.Manhattan Supreme Court Judge Arthur Engoron issued a summary judgement last month which found James had proven her central claim that the defendants had committed business fraud. Engoron had canceled the business certificates of Trump's companies as part of that finding.

 

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Trump may seek to pause $250 million New York business fraud trialNY AG Letitia James alleges Trump, Donald Trump Jr., Eric Trump and others overvalued key Trump Organization assets to get better loan terms and tax advantages.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »