The New York court postponed the withdrawal of Mr. Trump's business license

New York appellate judge temporarily postpones revocation of former president Donald Trump's business license in a lawsuit over declaring billions of dollars in assets.

Judge Peter Moulton in the appeals court on October 6 in New York ruled to temporarily suspend the withdrawal of the Trump Group's business license in this state, to consider the former US president's appeal in the lawsuit against him and his associates. Associates inflate assets to benefit.

Mr. Trump's lawyer Christopher Kise argued that several entities not named in the lawsuit also had their licenses revoked and this was unconstitutional. He also said "irreparable" damage would occur to Mr. Trump's real estate and hotel businesses if their licenses were revoked.

"This is everything the defendant owns and operates. Right now everything is very chaotic," Mr. Trump's lawyer Kise said during the appeal hearing.

Former President Donald Trump at New York court, USA, October 4. Photo: AFP

New York Attorney General Letitia James filed a lawsuit in September 2022 against Trump and his associates for allegedly "inflating" assets by 17-35%, equivalent to about 812 million to 2.2 billion USD, with banks. banks and insurance companies in the period 2011-2021 to enjoy more profitable loans and insurance contracts.

Judge Arthur Engoron on September 26 announced the revocation of the Trump Group's business license in New York state. Mr. Trump, the Republican presidential candidate, appealed two days ago, requesting a temporary halt to the trial.

During the appeal, New York attorney general Letitia James's representative, lawyer Judy Vale, argued that "there is no basis to pause the trial that has been going on for a week."

Although Judge Moulton later refused Mr. Trump's request to suspend the trial, the decision to postpone the license withdrawal was considered a temporary victory for the former president. Attorney Kise said he was satisfied with "the court's efforts". The trial will continue on October 10.

New York Attorney General Letitia James left court this week. Photo: Bloomberg

Details of the restrictions on Mr. Trump's business activities imposed by Judge Engoron will be filed in the coming weeks and fully evaluated.

Ms. James is asking the court to impose a fine of $250 million, a figure she believes corresponds to the illegal benefits Mr. Trump has obtained. She also wants Trump and his company to be banned from participating in commercial real estate acquisitions and loan applications in New York state for five years.

In addition to the civil lawsuit in New York, Mr. Trump is facing four criminal trials for actions before, during and after his presidency, including two state cases in New York and Georgia and two federal courts in Florida and Washington.