New York Appeals Court Considers Motion from Trump in Asset Dissolution Case

October 8, 2023

NEW YORK – On Friday, a New York state appeals court temporarily stopped the dissolution of several of Donald Trump’s most significant assets while considering his appeal in a civil fraud lawsuit.

This decision by the New York Appellate Division suspends the execution of a previous order from September by Justice Arthur Engoron. Engoron had determined that Trump and his family business engaged in fraud, subsequently stripping them of control over some of the most iconic properties of his real estate portfolio, such as Trump Tower and 40 Wall Street in Manhattan.

The recent court intervention doesn’t hint at the ultimate decision regarding the appeal, which might take more than a year to conclude.

Simultaneously, the appeals court declined Trump’s request to delay a trial started last week. This trial seeks to ascertain the penalties Trump, ten of his businesses, and his two eldest sons have to pay. The allegations center around Trump allegedly exaggerating his net worth to get better loan conditions.

Denying any wrongdoing, Trump, who is currently a leading contender for the Republican presidential nomination in 2024, has labeled the lawsuit as a politically motivated attack.

Trump’s attorney, Christopher Kise, expressed satisfaction with the recent court decision, noting it halted attempts to address issues and assets beyond the lawsuit’s scope.

New York Attorney General Letitia James has accused Trump of inflating his asset values by billions, leading to illicit savings amounting to hundreds of millions on loan interest. She is pushing for a minimum of $250 million in fines, a permanent ban on Trump and his sons Donald Jr and Eric from managing New York businesses, and a five-year commercial real estate prohibition for Trump and the Trump Organization.

The ongoing trial is predicted to conclude by mid-December, with Trump having indicated his intention to testify.

Though this is a civil lawsuit, Trump is grappling with other substantial legal challenges. These issues have strained his finances and resulted in him being the first U.S. president, current or former, to face criminal charges. These charges span various allegations, including attempts to overturn the 2020 election results, mishandling classified documents after leaving the White House, and payments made to silence a [censored] star. In all instances, Trump has maintained his innocence and entered pleas of not guilty.

Phil Stilton

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital newsroom providing original reporting on New Jersey, national news, government, public policy, public safety, courts, and community affairs.

As founder of the publication, Stilton leads editorial strategy, investigative reporting, and daily newsroom operations while overseeing coverage that reaches millions of readers annually.

With extensive experience covering municipal government, county government, state legislatures, elections, law enforcement, emergency management, and public records, Stilton specializes in translating complex government actions into clear, factual reporting. His work frequently relies on primary source documents, including court filings, legislation, public meeting records, election finance disclosures, government databases, police reports, and Freedom of Information and Open Public Records Act (OPRA) requests. He has reported extensively on local government accountability, taxpayer spending, campaign finance, public corruption investigations, infrastructure, public safety, and the policies affecting New Jersey residents.

Under Stilton's editorial leadership, Shore News Network has grown into one of New Jersey's largest independent digital news organizations, publishing thousands of original news articles each year while providing breaking news coverage, investigative reporting, and analysis across state and local government. The publication's reporting is routinely sourced from official government agencies, public officials, court records, and firsthand documentation, with a commitment to transparency, attribution, corrections when warranted, and clearly distinguishing factual reporting from opinion.

Stilton's journalism follows established newsroom standards emphasizing accuracy, verification, fairness, and accountability. Every effort is made to verify information through official records and multiple reliable sources before publication. His reporting is intended to provide readers with timely, well-documented information that helps them understand the issues affecting their communities, while maintaining editorial independence from political parties, government agencies, advocacy organizations, and commercial interests.

Readers can submit story tips, corrections, public records, or media inquiries through the official Shore News Network website or its verified social media channels. Shore News Network welcomes corrections and updates when new information becomes available as part of its ongoing commitment to accurate and transparent journalism.