The judgment against Donald Trump in New York has sparked celebrations as he faces the prospect of selling off his properties to appeal the $355 million fine.
Despite objections to the excessive fine, Trump must come up with a substantial amount just to file an appeal.
The ruling’s high deposit requirement highlights the unfairness of New York law, where companies can be forced into insolvency without actually losing money.
Trump’s legal challenges and mounting fines are putting significant financial pressure on him, with speculations about selling properties at distress prices.
The situation has raised concerns among business leaders about the city’s business environment and legal system, with fears of an exodus of businesses and high-earners from New York.
“Business people have nothing to worry about, because they’re very different than Donald Trump and his behavior,” Gov. Kathy Hochul said.
The actions against Trump are seen as setting a concerning precedent for business dealings in the city.
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