JUST IN: Trump Scores Partial Victory From NYC Appeals Court

Former President Donald Trump will be allowed to temporarily head his family’s company and will be allowed to apply for loans from New York banks to help cover the $454 million fine levied against him in Attorney General Letitia James’ civil fraud case, a New York appeals court ruled Wednesday. The ruling represented a partial win for Trump, as the court also ruled that he will still be required to pay the unprecedented penalty.

A judge at the New York Appellate Division’s First Department granted the former president a partial and temporary pause on the entirety of penalties and sanctions imposed on him. Without a jury, a New York court ruled that Trump fraudulently overvalued his assets in a ruling that has been heavily criticized by real estate developers. Even though Trump paid back the loans granted to build his properties — with interest — Judge Arthur Engoron ultimately ruled against him in the case brought by an attorney general who campaigned on “getting Trump.”

As part of the penalty, both Trump and his children were banned from operating a business in the state of New York for three years. He was also ordered to pay more than $450 million in fines as part of the unprecedented ruling.

While Trump scored a partial victory on Wednesday, the appeals court ruled that Trump will still be on the hook for the massive fine.

Defendants in civil cases are generally required to post the full amount of the penalty they’ve been ordered to pay in cash, or in the form of a bond guaranteed by a third party, in order to pause enforcement of the judgement pending appeal. Trump’s legal team argued that the conditions of the judgement have made it impossible to secure a loan, however.

Trump’s lawyers argued that the “exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond.” James’ office responded with their own filing on Wednesday, arguing that “there is no merit” to Trump’s arguments.

“Defendants all but concede that Mr. Trump has insufficient liquid assets to satisfy the judgment,” Senior Assistant Solicitor General Dennis Fan wrote. “These are precisely the circumstances for which a full bond or deposit is necessary.”

Lawyers for both Trump and AG James’ office are expected to present further arguments before the appeals court in the coming weeks before a final judgement is issued. James has threatened to seize the former president’s properties if he is unable to pay the fine.