Dismantling of Donald Trump’s Businesses Scheduled for this Specific Date

By October 26, Donald Trump and his co-defendants must present potential receivers for their New York businesses to a New York state court and the judge in charge of their civil fraud trial, Arthur F. Engoron.

Meet Tanya Chutkan, the judge assigned to the Trump Jan. 6 trial

On Wednesday, Judge Engoron signed a supplemental order that specifies the date. The order also pertains to the co-defendants in the case, which includes Donald Trump Jr. and Eric Trump, the former president’s sons.

On September 26, Judge Engoron ruled in favor of New York Attorney General Letitia James, finding Trump, his adult sons, and the Trump Organization guilty of fraud. The judge determined that Trump had exaggerated the value of his assets by up to $2.2 billion, including his Mar-a-Lago property and Trump Tower penthouse. The evidence presented in court was conclusive, according to the judge.

Despite denying any wrongdoing, Trump has resorted to calling Judge Engoron “deranged” and has even appealed the decision to refuse dismissal of the civil lawsuit. In fact, his lawyers have gone so far as to contest “each and every part” of Judge Engoron’s ruling from September 26th.

In the past, the ex-president has accused James of initiating the case against him with the intention of undermining his stance in the 2024 presidential race. Despite facing four different criminal and federal charges, Trump remains the top contender in the Republican primary.

The ruling has declared that Trump’s license to operate a business in New York will be revoked, thereby significantly restricting his real estate company’s operations.

Judge Engoron’s recent ruling does not imply that Trump’s New York enterprises will be dismantled on October 26th; rather, it seems to be the initial step in the process. The ex-president and other co-defendants will be required to provide a list of prospective receivers for the judge to review.

Within seven days since October 4, Judge Engoron has ordered Trump and his co-defendants to furnish the Hon. Barbara S. Jones, an independent monitor, with a comprehensive list of all entity defendants and any other entities under the control or beneficial ownership of Donald J. Trump, Donald Trump Jr., Eric Trump, Allen Weisselberg, and Jeffrey McConney (two top executives at the Trump Organization) that have existing certificates filed pursuant to the Section 130 Entities.

If a company is surrendering, the co-defendants must disclose to the independent monitor whether any third party has an ownership, partnership, or membership interest in that entity. This requirement only applies to surrendering companies.

Currently, Jones serves as the court-appointed monitor for the Trump Organization, following his retirement as a federal judge.

Judge Engoron has set a requirement for Trump and his sons to notify him about any transfer of the former president’s properties and assets, as well as the formation of new companies. This measure aims to prevent any transactions that could potentially protect Trump from being held accountable.

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