If you haven’t heard, Donald Trump’s New York companies are in a bit of a jam, having a US judge declare that Trump and his organization have committed fraud, and so those companies should be dissolved post haste. However, an appellate court just issued a temporary halt on that order, as CNN reported.
According to the first order, Judge Arthur Engoron ruled that Trump and his organization should begin the dissolution process by naming potential receivers by October 26, which is coming up rather quickly.
But, of course, Trump is appealing that ruling. And so, the argument is that if the dissolution process is begun as ordered by Engoron, by the time an appellate court rules in Trump’s favor, it may be too late for either Trump’s businesses or everyone that their end could affect.
As Trump’s legal team claims, should action be taken against those companies before an appeal can be fully made, it could harm 1,000 or more Trump employees, for starters, and unnecessarily so.
Additionally, there are apparently private homes occupied by either Trump, his employees, or other defendants in the case that are actually owned by limited liability corporations. Should those be dissolved hastily, it could mean that their occupants are evicted immediately and the home sold out from under them.
And so, the team seeks to at least delay the start of the would-be dissolution process.
And luckily for them, they got it.
Thanks to New York Appeals Court Associate Justice Peter Moulton, a temporary stay has been issued to halt the breakup of Trump’s companies. The stay is only good for a month, though, and Moulton refused to either delay the trial or throw out the fraud case, as Trump hoped.
Perhaps in a month’s time, Trump will have better news. For now, it’s still very much all up in the air.
