Donald Trump is under increasing legal pressure. Now the date has come when he has to appoint an insolvency administrator for his company.
New York City – What is happening to Donald Trump’s company? The former President of the USA now has a deadline when it comes to his companies. He has until Oct. 26 to name a receiver for his companies before a New York state court and the judge in his fraud trial. Reports about this, among other things Newsweek.
Trump calls judge “deranged” and wants to appeal verdict
The date was specified in a supplemental order signed Wednesday by Judge Arthur F. Engoron, which also addresses co-defendants in the case — including the sons of former President Donald Trump Jr. and Eric Trump. Trump, his adult sons and the Trump Organization were found liable for fraud in the New York case on September 26. According to the judge, there was “conclusive evidence” that Trump overvalued many of his properties, including Mar-a-Lago in Florida and his Trump Tower penthouse, by as much as $2.2 billion. Judge Engoron sides with New York Attorney General Letitia James.
Of course, Trump sees it differently and sees himself in the role of victim. He denied any wrongdoing and called Judge Engoron “deranged.” He appealed the refusal to dismiss the civil case in its entirety. His lawyers wrote that they are challenging “every single part” of Judge Engoron’s Sept. 26 ruling. Trump has also accused James of starting the case against him to weaken his position in the 2024 presidential election. Despite being involved in four different criminal and federal cases, Trump is the Republican frontrunner.
Trump will lose his license to operate a business in New York
According to the ruling, Trump will lose his license to operate a business in New York state. But Judge Engoron’s latest order does not mean that Trump’s businesses there will be dissolved starting October 26, although it is the first step in that direction.
Judge Engoron is also demanding that Trump and his other co-defendants provide a list of all Trump companies to independent monitor Barbara S. Jones, a retired federal judge. For each of these companies, the co-defendants must inform the independent monitor “whether and to what extent any third party has an ownership, partnership or membership interest in that company.” That means Trump and his sons will inform Judge Engoron of any transfer of ownership and assets of the former president, as well as the formation of new companies – thereby preventing the former president from engaging in transactions that could protect him from liability. (cgsc)
2023-10-07 18:20:17
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