New York Judge Arthur Engoron rejected former President Donald Trump’s request on Thursday to delay payment of the nearly $355 million he owes by an additional 30 days.
Engoron claimed the defendants had failed to produce any justification for the stay request. Lawyers for Trump had requested the stay, claiming they were not given enough time to file a counter-judgment and that New York Attorney General Letitia James was rushing to “memorialize” the judgment.
“Dear Mr. [Clifford] Robert, you have failed to explain, much less justify, any basis for a stay,” Engoron wrote to Trump’s defense lawyer. “I am confident that the Appellate Division will protect your appellate rights.”
Trump and his legal team should have 30 days to file the bond and appeal a ruling, and a monitor will oversee the process, including the transfer of assets.
The response comes after Engoron ordered Trump and his organization to pay over $354 million in damages last week and banned the former president from “serving as an officer or director of any New York corporation or other legal entity in New York” for three years.
Engoron previously ruled that Trump inflated his net worth and that of his company to get more favorable loan agreements. Trump has repeatedly denied the accusations and vowed to appeal the case.
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Although Engoron’s order only required Trump to pay $354.8 million, he will have to pay more than $450 million due to interest. James has warned Trump and his organization that if they do not pay the full amount in cash, she will get a judge to seize some of the former president’s assets, including his prized skyscraper, 40 Wall Street.
Trump’s sons Donald Trump Jr. and Eric Trump are also banned from doing business in New York for two years.
