Share this @internewscast.com

Former President Donald Trump’s attorneys want an appeals court to delay enforcement of the $464 million judgment against him, his sons, and his company, and allow him to post a $100 million bond instead of the statutorily required full amount.

In a filing with the state Appellate Division Wednesday, Trump’s attorneys said it would be “impossible” for the billionaire to post the full amount given the restrictions in the ruling handed down by Judge Arthur Engoron in the civil fraud case brought by New York Attorney General Letitia James.

“The exorbitant and punitive amount of the Judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond. Appellants nonetheless plan to secure and post a bond in the amount of $100 million,” the filing said.

Without a stay with the lowered bond amount, Trump’s lawyers argue, “properties would likely need to be sold to raise capital under exigent circumstances, and there would be no way to recover any property sold following a successful appeal and no means to recover the resulting financial losses from the Attorney General.”

James’ office quickly opposed the request.

“There is no merit to defendants’ contention that a full bond or deposit is unnecessary because they are willing to post a partial undertaking of less than a quarter of the judgment amount,” Senior Assistant Solicitor General Dennis Fan wrote on behalf of James.

“Defendants all but concede that Mr. Trump has insufficient liquid assets to satisfy the judgment; defendants would need ‘to raise capital’ to do so. These are precisely the circumstances for which a full bond or deposit is necessary,” Fan’s filing said, adding that “there is substantial risk that defendants will attempt to evade enforcement of the judgment (or make enforcement more difficult) following appeal.”

Both sides made their arguments on the issue before Justice Anil C. Singh, and a ruling on the issue could come before the end of the day Wednesday.

The $464 million judgment was officially entered last week, starting the 30-day clock for Trump to post a bond in order to stay any collection efforts by James’s office. The $464 million figure includes the prejudgment interest that accrued on Engoron’s more than $350 million award against Trump and the Trump Organization for having routinely inflated their assets to get bank loans at rates they weren’t entitled to. The interest will continue to grow by over $114,000 a day until it’s paid or Trump wins his appeal.

In their filing Wednesday, Trump’s attorneys contended the award handed down by Engoron should have been closer to $100 million. “Among the Judgment’s myriad errors, more than $350 million of the nearly $465 million awarded in disgorgement is barred by the statute of limitations,” they contended.

The AG’s office said those arguments have already been rejected by the judge, and are likely to be rejected by the appeals court as well.

Trump filed his notice of appeal in the case last week, saying they wanted the court to determine whether Engoron “committed errors of law and/or fact, and whether he abused his discretion and/or acted in excess of his jurisdiction” when he handed down the judgment they called “staggering” in the filing Wednesday.

Share this @internewscast.com
You May Also Like
Chicago flooding: West Side seniors say more disaster relief funds needed from city to deal with flooded homes

Chicago Flooding: West Side Seniors Call for Increased City Disaster Relief to Tackle Home Flooding

CHICAGO (WLS) — Seniors living on the West Side of Chicago are…
Carsten and Vivian Spohr at the Cannes Film Festival.

Wife of Airline CEO Allegedly Hits and Kills Babysitter, 24, With Car Before Leaving Vacation Island

THE wife of a billionaire airline CEO ran down and killed a…
High-rise building engulfed in smoke and fire.

17-Storey Towerblock Engulfed in Flames, Sending Massive Smoke Plumes Skyward as 70 Firefighters Battle the Blaze

A WOMAN has been rushed to hospital and others treated at the…
Admiral Kuznetsov aircraft carrier in the English Channel.

Russia’s Sole Ailing Aircraft Carrier, Once Struggling Through the Channel, Set to Be Retired

VLADIMIR Putin’s only rustbucket aircraft carrier that struggled through the Channel is…
Kendra G, Raven Smith join Windy City Weekend; Val and Ryan talk Bud Billiken Parade, Windy City Smokeout, new movies

Kendra G and Raven Smith Team Up on ‘Windy City Weekend’; Val and Ryan Discuss Bud Billiken Parade, Windy City Smokeout, and Upcoming Movies.

CHICAGO (WLS) — On Friday morning, Val Warner and Ryan Chiaverini invited…
Justin Bieber confirms Hailey marriage struggles in album 'Swag'

Justin Bieber Opens Up About Marriage Challenges with Hailey in New Album ‘Swag’

Justin Bieber is hitting rumors head-on. The singer addressed his and Hailey…

‘Police Chief Father Abused Me for Over a Decade in Disturbing Cult That Traumatized Me as a Child’

THE daughter of a police chief claims her dad raped her for…
Military amphibious vehicles in the water.

Observe as a Massive Fleet of New Chinese ‘Tank Boats’ Takes to the Water Amid Taiwan’s Largest War Drills Yet

DRAMATIC footage captures a fleet of Chinese tank boats charging through the…
DHS arrests five illegal immigrants convicted of serious crimes, including murder and child abuse

DHS captures five undocumented individuals previously found guilty of severe offenses such as murder and child abuse

On Friday, the Department of Homeland Security reported the detention of five…
FBI arrests self-proclaimed hate crime victim for allegedly setting deadly house fire

FBI Detains Alleged Hate Crime Victim Accused of Setting Fatal House Fire

The FBI in Houston, Texas, has recently reported the arrest of a…
Country singer Conner Smith involved in Nashville crash, killing pedestrian

Emerging Country Artist Conner Smith Cited Following Deadly Accident in Nashville

Police indicated Smith showed no signs of impairment at the time of…
Waycross teens killed by lightning strike, city manager says

City Manager Reports Teen Deaths from Lightning Strike in Waycross

Waycross City Manager Ulysess Rayford said the two teens were fishing when…