NY Appeals Court Casts Doubt On $489M Trump Judgment

[LetMyPeopleVote]

6. I watched part of the oral argument in this case

Here is a link to the oral argument
https://www.youtube.com/live/emwvMtwZ53k
The Court of Appeals has already strongly hinted at least part of the ruling. In order to bond the full amount of the judgment, TFG would have to put up close to a half billion dollars in a bond. TFG complained and the Court of Appeals reduced the bond to $175 million. This tells me that the Court of Appeals is likely to reduce the judgement.

The judgment in this case was based on two separate damage elements (i) TFG's saving due to lower interest rates due to the fraudulent statements and (ii) disgorgement of all profits realized by TFG due to the fraudulent transactions. Disgorgement is a strange remedy that is sometimes used when no other form or measure of damages is appropriate. Here the $400+ million judgement against TFG included both elements of damages with the disgorgement damages being the largest part of the judgement.

I did not listen to TFG's attorney main argument but listened to most of the NY AG attorney oral argument where the judges asked at least twice if the damage are being double counted. I think that the court may well reduce the judgment to a lower amount consistent with the $175 million bond.

Again, the court has already signaled part of the ruling.