Temporary relief for Trump as New York court delays business license cancellation

A New York state appeals court temporarily halted the dissolution of some of former President Donald Trump's most valuable properties on Friday. 

The pause comes as the court considers Trump's appeal in a civil fraud case initiated by New York Attorney General Letitia James.

The decision by the New York Appellate Division effectively puts on hold a September order by Justice Arthur Engoron, who had ruled that Trump and his family business had committed fraud. 

The ruling had stripped them of companies controlling some of Trump's prime real estate assets, including Trump Tower and 40 Wall Street in Manhattan.

This temporary halt does not indicate how the appeals court will ultimately decide on Trump's appeal, a process that may take more than a year.

Moreover, the appeals court rejected Trump's attempt to delay a trial that began last week. This trial aims to determine the penalties Trump, ten of his companies, and his two adult sons, Don Jr. and Eric, must pay for allegedly inflating Trump's net worth to secure more favorable loan terms.

Throughout this legal battle, Trump, who is currently the frontrunner for the 2024 Republican presidential nomination, has consistently denied any wrongdoing. He has characterised the case as a politically motivated witch hunt.

In response to the recent court decision, Trump's lawyer, Christopher Kise, expressed satisfaction, stating that the "court’s attempt to reach issues, entities and assets beyond the scope of this case has been suspended."

The civil lawsuit filed by Attorney General Letitia James alleges that Trump overstated the value of his assets by billions of dollars, resulting in hundreds of millions in ill-gotten savings on loan interest. James is seeking at least $250 million in fines, a permanent ban on Trump and his sons from running businesses in New York, and a five-year commercial real estate ban on Trump and the Trump Organisation.

The trial is set to continue through mid-December, with Trump himself indicating that he plans to testify.

While this civil case unfolds, Trump faces a series of other legal challenges, including criminal charges in various jurisdictions. Despite these legal battles, Trump has consistently maintained his innocence and pleaded not guilty in all cases.