This NY Post article attempts to answer the question. We already know that, whether Trump lied or not, there was no victim and none of the lenders claimed damages. But this discussion is about a different angle of the case:
Only a few decisions have ever been issued on whether New York courts have the right to revoke business certificates based on violations of the civil fraud law that Engoran found Trump broke, according to Leitman Bailey.
The lawyer said there are at least two similar New York cases, with one 1959 ruling in which a judge stripped a disc-jockey school of its business licenses because it deceived students about what they were qualified for after completing the program.
In another 1974 case, a judge revoked the business license of a company that posed as the New York Office of Consumers.
But none of these cases fit the profile of Trump, Leitman Bailey said.
“Nothing like this has ever happened before in the history of New York,” Leitman Bailey said of Engoron’s ruling.
Or, I would wager, in the history of the US.
All of the legal experts The Post spoke to agreed that Engoron’s ruling is nearly unheard of – which may account for the lack of clarity on how it will be implemented.
“It’s exceedingly rare,” Florence said. “Judicial dissolution almost never happens.” Instead, corporations usually “die” in bankruptcy cases, she said.
Trump is so very special, his victimless crimes so very heinous, that an exception must be made.
Why does Engoran think it’s okay to do this? Because he knows that half of America – and almost all in the MSM – will applaud with vengeful glee? Because he knows that the ground has been laid with seven years of describing Trump as a person beyond the pale, uniquely and deeply evil? Because he knows that the NY appeals courts are politically biased, as well? Because he wants to put the “guilty of fraud” label on Trump now, prior to the 2024 election, in order to affect him negatively, even if his decision is eventually overturned? Because if it happens quickly enough, before an appeal can occur, the properties will be liquidated by the receiver and the financial damage to Trump will be irreversible?
Here is a comment to the Post article:
So in 2023 America a single judge can just cancel a business with the stroke of a pen? … And even if NO ONE was hurt by this? If this is allowed to hold then we are truly done as a country.
More:
Business certificates are issued by the state to prove a company’s validity and are used for business transactions.
They can be thought of like a birth certificate is for a person, former financial-crimes prosecutor Diana Florence told The Post.
When the judge canceled them, it was like being given “death certificates” — with the ruling amounting to a “corporate death penalty,” Florence said. …
“We are going to see the name Trump coming off of a lot of buildings in New York,” [Cornell law professor] Hockett predicted. “The Trumps will no longer be a real estate family in Manhattan.” …
Trump has already said he plans to appeal the ruling which, two lawyers said, is likely to stop the cancellation of the business certificates from taking effect immediately.
An appeal could be filed as early as this week, landing in New York’s mid-level appeals court called the Appellate Division, Hockett said.
Both Florence and veteran real estate lawyer Adam Leitman Bailey believe that will trigger a stay of Engoron’s ruling while the appeal plays out — which could take up to two years to decide.
And then there’s that $18 evaluation of Mar-a-Lago, which seems on the face of it to be absurdly understated. I don’t have my finger on the pulse of Palm Beach real estate (more’s the pity), but I actually do know a couple who live there and are attempting to sell their rather small and very modest non-oceanfront property for many millions, because that’s what the traffic will bear. Then there’s handy dandy Zillow; here’s a screenshot:
Real estate evaluations are notoriously fluid. But I don’t care how many restrictions and encumbrances are on that property; it’s worth a lot more than eighteen million. And yes, you can get someone to say otherwise – or to say just about anything, I suppose, especially if it hurts Trump. More here:
One prominent Palm Beach real estate broker, speaking on the condition of anonymity, told The Post, “It’s utterly delusional to think that property is only worth $18 million.”
The insider added, “If that property were on the market today, I would list it at around $300 million, minimum … at least. He also has the separate golf course minutes away.” …
He cited a basic Palm Beach Assessor valuation that ranged from $18 million to $28 million between 2011 and 2021, with industry sources saying it fails to take into consideration the fair market value. This valuation is far from Trump’s 1985 purchase price of $10 million, $8 million less than what the judge declared it was worth today.
It is also important to note that Trump got a deal on Mar-a-Lago nearly 40 years ago. At the time the historical estate was listed at $20 million.
There are also nearby comps.
To put it in perspective, a 2-acre wooded lot at 1980 S. Ocean Blvd., just 5 minutes from Mar-a-Lago, is currently listed for $150 million. Mar-a-Lago, situated at 1100 S. Ocean Blvd., dwarfs this lot tenfold and operates as a commercial business with around 500 members as part of the golf club. …
Forbes had appraised the property, which is made up of 128 rooms, at approximately $160 million in 2018 following extensive renovations and its exclusive Palm Beach location on Billionaires’ Row. The property includes a 20,000-square-foot ballroom, five clay tennis courts and a sprawling waterfront pool.
And in the five years since, Palm Beach properties have only increased in value.
Maybe Forbes should be found guilty of fraud. And yes, that’s sarcasm.


