Quick Hit:

Former President Donald Trump has been denied a request to postpone a $355 million judgment in a New York fraud case. Manhattan Supreme Court Justice Arthur Engoron ruled that Trump's attorneys failed to provide a valid reason for the delay, leaving Trump with 30 days to file an appeal.

Key Details:

• Trump, the Trump Organization, and others were found guilty in a civil fraud case, resulting in a $355 million judgment and a three-year ban from doing business in New York.
• Trump's attorneys argued that the Attorney General's Office did not follow proper court procedure and made errors in the proposed judgment, but Justice Engoron disagreed and signed the judgment.
• If Trump fails to pay the $355 million, plus 9% interest, as collateral for an appeal, New York Attorney General Letitia James has stated she is prepared to seize his assets, including some of his most valuable New York properties.

Diving Deeper:

The ruling by Manhattan Supreme Court Justice Arthur Engoron marks a significant setback for Trump, who has consistently denied any wrongdoing and has labeled the case as a politically-motivated "witch hunt". The judgment, which was based on Engoron's ruling last week, was submitted to the court by the office of New York Attorney General Letitia James, who prosecuted the case against the former president.

Trump's attorney, Clifford Robert, responded to the proposed judgment by claiming that the Attorney General's Office had not followed proper court procedure and had made errors in the proposed judgment. He also argued that the defense should have time to submit a "proposed counter-judgment". However, Justice Engoron dismissed these arguments, stating in an email filed in the case, "You have failed to explain, much less justify, any basis for a stay."

Following Engoron's ruling, Trump and his co-defendants, including his two eldest sons Eric and Donald Trump Jr., now have 30 days to file an appeal. To do so, they will need to provide the $355 million judgment, plus 9% interest, as collateral. This puts significant pressure on Trump, who is considered a frontrunner for the 2024 GOP presidential nomination.

If Trump fails to come up with the required collateral, Attorney General James has smugly stated that she is prepared to seize his assets to cover the cost. This could potentially include some of Trump's most prized properties in New York. The judgment and subsequent ruling highlight the ongoing legal challenges facing the former president, even as he continues to be the dominant figure in American politics.