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November 28, 2022

Donald Trump May Testify to Defend Business Empire at 2023 Trial

Donald Trump may possibly testify in human being in 2023 to protect his organization against New York’s $250 million lawsuit.
He is the guide defendant in the point out attorney general’s accommodate, which seeks to bar him from performing organization in the state.
Until now, Trump has shunned testifying at public trials or even offering shut-doorway depositions.

Donald Trump may possibly individually just take the stand in Manhattan next year to protect his real-estate and golfing-vacation resort empire from New York Lawyer Typical Letitia James’ $250 million fraud lawsuit, which seeks to bar his family from performing organization in the point out.

The revelation arrived on Tuesday as attorneys for Trump and the lawyer general’s office clashed heatedly in court docket about setting a trial schedule.

The demo could decide whether Trump and his three eldest children, Donald Trump, Jr., Ivanka Trump, and Eric Trump, can ever run a company in the condition once again it is scheduled for October 2, 2023.

Considering that his presidency, Trump has shunned publicly testifying or even being privately deposed in the several lawsuits he has been concerned in.

He most lately fought getting deposed and testifying in a circumstance that settled in the Bronx this thirty day period, as an alternative giving taped testimony that would have been played in lieu of his stay testimony had the case gone to demo.

But now, James’ lawsuit is threatening the very survival of his Manhattan-headquartered enterprise.

“They will be here,” explained law firm Alina Habba, who signifies the organization and Trump himself. “All of them.”

Asked by Insider exterior court if Trump would in truth testify at the demo, Habba did not deny it. Afterwards, she backpedaled, stating in an e mail, “I do not know at this position.”

Trump would like the situation be experimented with by a jury of Manhattan people, the law firm also exposed.

His firm is at this time also on trial in advance of a Manhattan jury on tax-fraud prices that case ongoing Tuesday with testimony from an outside the house accountant who taken care of tax matters for Trump and the company.

“Donald Trump and entities would like to have a jury trial,” Habba advised the judge.

Legal professionals for the attorney general’s place of work, in the meantime, questioned for a bench trial, to be presided above by state Supreme Court Justice Arthur Engoron, the very same decide who oversaw two several years of litigation main up to the September 21 submitting of the lawyer general’s lawsuit.

The choose reserved conclusion on the bench vs . jury demo, while he appeared amenable to what Clifford Robert, a defense lawyer for Donald Trump, Jr., and Eric Trump, known as a “bifurcated” demo.

The two sons and Ivanka Trump are also named as defendants in the lawyer general’s lawsuit.

Outside courtroom, Habba informed Insider that it is really not unconventional for Trump to want to testify in his personal defense it really is just that so lots of of the circumstances he has been associated in have settled prior to demo, she stated.

“Most instances do not go to demo due to the fact they have no merit, just like this just one,” she said. “But Mr. Trump will be — President Trump will be — quite associated.”

It was a fiery listening to right before Engoron, who commenced the proceeding by chastising the lawyers for Donald Trump and for his 3 eldest youngsters, who are also defendants in the situation.

The defense is trying to find to have the lawyer general’s lawsuit dismissed, but is using the exact arguments that ended up unsuccessful in his very own courtroom and later on on charm, Engoron explained to protection lawyers.

“I feel it was Yogi Berra, except if it was Casey Stengel, who said, ‘Deja vu all around once more,'” Engoron informed the protection.

“It looks to me the points are the same, the regulation is the same, the parties are the identical,” the choose added of the most recent defense filing.

“I never know why I, my workers, not to point out the lawyer general’s personnel need to go by means of this all from. It is really like jumping as a result of the exact hoops.”

The disagreement accelerated, with Habba accusing the decide of making a predetermined final decision on her newest movement to dismiss.

Habba has twice tried using to get Engoron eliminated from the scenario as presiding choose, 1st by inquiring to have the case transferred to the condition courtroom system’s professional division, and afterwards by arguing the judge recused.

Both equally initiatives failed, one thing Engoron reminded Habba of Tuesday when she again said she opposed his presiding more than the situation.

“You’ve by now lost that motion, Ms. Habba,” he explained to her.

November 22, 2022: Right after this story’s publication, Donald Trump’s attorney explained her remark in court that all her clients would testify was not confirmation that Trump would appear in court docket. She afterwards emailed Insider that she isn’t going to know if he’ll testify.

November 27, 2022

The business case for practicing law in paradise

(Reuters) – Almost just about every huge law business can brag about possessing offices in towns like New York, San Francisco and Washington, D.C.

But what about locales off the overwhelmed track, in particular glamorous ones like the Hamptons, Aspen or St. Thomas?

As lawyers hesitantly return to the business next the COVID-19 pandemic, a perennial law business true estate dilemma is finding a new twist: Where does it make most feeling for substantial firms to retain a bodily existence domestically?

The pandemic proved legal professionals can work from just about anywhere efficiently and proficiently. But consultants notify me that does not necessarily mean corporations hunting to decrease overhead really should hurry to shutter their much-flung outposts.

If anything at all, the opposite.

“I discover that firms are much more versatile on small places of work these days with the emphasis really on the talent,” mentioned Lisa Smith, a principal at Fairfax Associates.

Contemplate Greenberg Traurig.

Greenberg Traurig’s workplace in Bridgehampton, New York. Photo credit history James Poster.

In early 2022, the 2,500-law firm firm opened two new offices on Long Island, New York — just one in Bridgehampton, renowned as a playground for the posh and effective, and 1 in Garden Metropolis (Okay, not just paradise).

Government chairman Richard Rosenbaum instructed me the new outposts have aided the firm in attracting and retaining attorneys “who no more time want to commute” into Manhattan.

Also, the Bridgehampton business gives proximity to a client foundation of company principals, expenditure bankers and these types of who “because of the pandemic are more and more investing a good deal of time in the Hamptons,” he said. “So-known as little marketplaces can be incredibly valuable to clientele and finally beneficial to (lawful) expertise and the organization.”

As a promoting reward, the new business is in the coronary heart of Bridgehampton on Montauk Freeway and capabilities a outstanding Greenberg Traurig sign. “We’ve gotten emails from actually all over the globe from folks who noticed the indicator asking ‘What, are you fellas almost everywhere?’” Rosenbaum explained.

(So … a bit like a large-course version of plaintiffs’ lawyers freeway billboards?)

Long Island co-taking care of shareholder Brian Doyle said the place of work is also a hit with colleagues viewing the Hamptons. Company lawyers from Los Angeles, Atlanta, Denver, Boston and Tel Aviv, as properly as these who ordinarily perform in Manhattan, have all manufactured use of the room, which can accommodate more than 20 attorneys, he said.

The Garden Metropolis place of work, while missing in jet-setters, gives proximity to nearby courts and corporations, furthermore an less difficult commute for Extensive Islanders than schlepping to Manhattan.

Legal advisor R. Bruce McLean, a husband or wife at the Zeughauser Group, named Greenberg’s transfer “an exciting tactic” to motivate attorneys to return to the place of work, but added, “A concern is, can you be everywhere your legal professionals want to dwell?”

Possibly not almost everywhere, but a number of other massive corporations also offer legal professionals a likelihood to practice high-conclude regulation though dwelling in key trip spots.

For case in point, 800-law firm Duane Morris has a compact workplace in Truckee, California, a gold rush-period ski town close to Lake Tahoe, prompted by unique consumer demands.

With various ski areas which include Palisades Tahoe (previously acknowledged as Squaw Valley) and Alpine Meadows as customers, Duane Morris lawyers in the party of a catastrophic or lethal harm — feel snowboarder compared to snowcat — can “get out to the vacation resort at a moment’s discover,” partner John Fagan instructed me. That will allow them to assist with the investigation and converse to resort staff less than the umbrella of legal professional-consumer privilege.

Fagan, who bought his begin as an associate operating on a huge wrongful demise match towards Alpine Meadows following an avalanche there killed seven men and women in 1982, said consumers balked at shelling out lawyers to push 4 hours from San Francisco to Tahoe for depositions.

In response, Fagan’s predecessor firm Hancock Rothert & Bunshoft, which merged with Duane Morris in 2005, opened the Tahoe place of work 35 years ago.

“I gladly volunteered” to work there, stated Fagan, an avid skier and one particular of two legal professionals in addition a paralegal based mostly in the business office around the japanese edge of Truckee.

Holland & Hart’s Aspen office environment goes again even further more. It was the Denver-launched firm’s to start with regional outpost, launched in 1965 when Aspen’s progress was in its heyday.

Whilst ski industry consumers were the original driving force, do the job now consists of land use, serious estate enhancement, environmental and pure resources and private client expert services, the two regionally and as section of organization-large groups.

Spouse Mark Hamilton is one of 8 legal professionals and 4 employees who perform from Aspen, where by the firm for decades has owned its place of work developing on East Principal Road.

When Hamilton tells legal professionals outdoors 400-law firm Holland & Hart the place he’s dependent, he explained their reaction is often the exact: “Gosh, how’d you determine that out?”

It’s not all champagne powder nevertheless. “The price tag of dwelling in Aspen can make it not a basic calculus, even for a productive lawyer,” he explained. “It’s not for all people.”

As a reward, the 7,000-particular person town features sufficient prospects to rub shoulders with probable clients. Like the Hamptons, a “disproportionate number” of the wealthy and highly effective “come by means of Aspen all the time,” Hamilton famous. “It’s a conference spot for people from all over.”

For lawyers who want solar to snow, it is tough to conquer Ogletree Deakins’ workplace in St. Thomas in the U.S. Virgin Islands (a territory of the United States since 1917).

Associate Charles Engeman informed me he “packed up and moved to the Virgin Islands” 30 many years in the past right after quitting his job as an associate at Goodwin Procter in Boston.

He practiced with a neighborhood company for 10 years, then joined 875-attorney Ogletree to open up a five-attorney business in St. Thomas, where he reported it stays the only Am Legislation 200 company based mostly on revenue with a regional existence. Office environment lawyers target on defending businesses, in particular individuals in the tourism market, in labor and work matters.

Overlooking the amazing turquoise waters of Prolonged Bay, the business office also makes a wonderful recruiting hook, Engeman additional, with regulation college students typically asking “Oh, how do I get to that office environment?”

Our Criteria: The Thomson Reuters Belief Ideas.

Views expressed are individuals of the author. They do not mirror the sights of Reuters Information, which, beneath the Rely on Principles, is committed to integrity, independence, and freedom from bias.

Jenna Greene

Thomson Reuters

Jenna Greene writes about lawful organization and tradition, getting a wide look at trends in the job, faces guiding the cases, and quirky courtroom dramas. A longtime chronicler of the legal sector and large-profile litigation, she lives in Northern California. Achieve Greene at [email protected]

November 24, 2022

FTX Lawyer: ‘Substantial Amount’ of Assets Stolen | Arkansas Business News

We ended up unable to ship the write-up.

NEW YORK (AP) — Attorneys for FTX disclosed Tuesday that a “considerable volume” of property has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its hundreds of thousands of buyers will get their money again.

The admission came through FTX’s 1st courtroom visual appearance considering that the firm filed for individual bankruptcy security on Nov. 11. This kind of hearings typically transpire days following a submitting, but this one particular was delayed mainly because FTX’s collapse arrived quickly and management held number of if any data.

“This company was operate by inexperienced, unsophisticated and perhaps personally compromised individuals,” said James Bromley, a lover with Sullivan & Cromwell, the regulation agency employed by FTX’s debt holders to navigate the corporation by way of personal bankruptcy. “It is just one of the most abrupt and hard organization collapses in the historical past of corporate The usa.”

FTX, brief billions of pounds, sought personal bankruptcy security following the exchange seasoned the crypto equal of a bank operate. The firm estimates that there are a lot more than 100,000 claims from it so far, and that number is likely to increase to earlier mentioned 1 million at the time the individual bankruptcy circumstance is settled.

Nevertheless having all individuals resources again has grow to be more and more challenging. In the days immediately after FTX’s collapse, hundreds of hundreds of thousands of pounds of cryptocurrencies had been moved out of FTX’s accounts and into other cryptocurrency wallets. Though there experienced been some studies that a portion of individuals resources may possibly have been seized by the government of the Bahamas— where FTX is headquartered — as aspect of its have investigation, the bulk of all those cryptocurrencies have been moving as a result of several various wallets, in what appears to be the crypto equivalent of revenue laundering.

In court docket, FTX’s legal professionals admitted that a “considerable amount of money” of assets had been stolen from FTX accounts.

“We fully grasp the issue and outrage, and we are doing work day and night time to provide order to problem,” Bromley said.

FTX’s personal bankruptcy has produced sizeable desire past just cryptocurrency traders. The enterprise had important sporting activities sponsorships as effectively, such as offers with Method Just one racing and Main League Baseball. FTX experienced the naming legal rights to a athletics arena in Miami, and many celebrities had been either invested in FTX or did sponsorship specials with the organization.

Nearly 700 individuals had been in the Zoom conference area for U.S. Individual bankruptcy Choose John Dorsey on Tuesday, and the hearing was also streamed on YouTube.

Judge Dorsey did temporarily grant FTX 1 buy that experienced produced some controversy: redacting the names and addresses of FTX’s shopper listing. Commonly in individual bankruptcy law, all promises towards a bankrupt firm are community. But FTX’s legal professionals argued that safeguarding the identities of FTX’s clientele — at the very least on an interim basis — was needed to stay clear of probable long term thefts of FTX’s accounts.

Dorsey granted momentary redaction of FTX customers’ names and information, with the expectation of releasing all those names at the time the situation finalizes.

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September 28, 2022

New members increase scope and diversity of ICC Institute of World Business Law – ICC

The ICC Institute of Entire world Company Law has introduced the addition of eight members to the Institute Council. The Institute is ICC’s visionary consider-tank conducting exploration and training and furnishing insight for the authorized job to travel understanding and progress of international business enterprise legislation.

Comprising 50 eminent legal professionals, the governing system shapes the ICC Institute’s approach, plan and programme of pursuits in line with ICC’s mission to make company perform for every person, each and every day, just about everywhere.

The new members are:

Jose Antonio Moreno Rodriguez – Specialised in global trade issues and arbitration, Jose Antonio Moreno Rodriguez is a Harvard LL.M. ’93 Doctor in Legislation, member of the ICC Worldwide Court of arbitration, centre member of the Long-lasting Court of Arbitration (PCA) of The Hague because 2020, and energetic arbitrator just before the mechanism and also a Member of Annulment Committees at the Intercontinental Centre for Settlement of Financial investment Disputes (ICSID).

Andrea Hulbert – Arbitration practitioner, an expert in complex professional and civil disputes, President of the ICC Costa Rica Fee on Arbitration and ADR member of the ICC Institute of Earth Business Legislation given that 2016. Ms Hulbert has participated in quite a few intercontinental arbitrations underneath ICC, UNCITRAL, and ICDR policies. She is also one particular of the most specified girls arbitrators in Costa Rica, a member of and recognised by numerous establishments as a national leader in dispute resolution. Recently awarded as Excellent Women of all ages of Excellence by the Women Financial Forum.

Kim Sae Youn – Specialised in construction and merger and acquisition contracts Ms Kim practices generally in the locations of worldwide litigation and arbitration with an emphasis on business and international regulation. Her know-how in intercontinental dispute resolution has been recognised in the wide range of roles she holds and has held in various establishments, such as but not limited to an Alternate member of the ICC Court, Commissioner of the Korea Trade Fee, a Vice-Chair of the Arbitration Committee of the International Bar Association, a Co-Chair of the Dispute Resolution and Arbitration Committee of the Inter-Pacific Bar Affiliation.

Tan Chuan Thye – Specialised in the electrical power sector in Singapore, Mr Tan is an Oxford graduate and Senior Counsel of the Supreme Courtroom of Singapore and a Fellow of the Chartered Institute of Arbitrators. His exercise (because 1993) as counsel has included business, company, economical and infrastructure issues. Mr Tan appears frequently in worldwide arbitrations as properly as court proceedings. His observe has a huge geographical scope and he signifies a vary of global and domestic entities.

Laurence Shore – An arbitration practitioner, working towards regulation in London, New York Metropolis, and Washington, D.C., ahead of signing up for Bonelli Erede in Milan as head of the firm’s intercontinental arbitration section, Laurence Shore sits as an arbitrator in addition to his counsel follow. Mr Shore has been a tribunal member or lead advocate in conditions beneath the LCIA, ICSID, AAA, ICDR, ICC, CRCICA, UNCITRAL, SIAC, HKIAC, Swiss Chambers, LMAA, and Culture of Maritime Arbitrators’ Principles, involving a extensive array of business sectors (e.g., electricity fossil fuels renewables) construction, engineering, intellectual assets, telecommunications, biomedicine, banking and transport).

Lisa Miller – Specialised in compliance and sanctions, Lisa is a mediator and arbitrator and reference decide, resolving conflicts in civil and spouse and children regulation circumstances via mediation, serving as a sole and swing arbitrator in civil disputes. Ms Miller offers guidance to sanctioned functions on the institution of proper integrity compliance actions and assesses these kinds of actions. She advises on compliance ailments and phrases in negotiated resolution agreements develops integrity compliance-related assets and engages in World Lender Team sanctions, integrity due diligence, and integrity risk administration initiatives.

Tolga Ayoglu– A distinguished educational LL.M., Ph.D., and Professor in Business Legislation at Galatasaray College where he served in several roles as Head of the Industrial Legislation Division, Vice-Chair, and Dean of the Faculty of Law. Acted as arbitrator, counsel, consultant, or authorized skilled in numerous litigation and arbitration proceedings with worldwide and domestic character. His fields of expertise involve Global Industrial Regulation, Global Contracts Legislation, Corporate Regulation and mergers and acquisitions, Banking, Finance and Securities Legislation and Mental Residence Legislation.

Wairimu Karanja – Specialised in power, climate and company law, Main Lawful Officer and Lover at Persistent and dependent in Nairobi. She is an worldwide lawyer skilled in Kenya, with 12 many years of authorized experience. Earlier Fellow of the Vitality Constitution Secretariat, Brussels, and the Forum for China-Africa Cooperation (FOCAC) Authorized Secondment. Ms Wairimu has suggested personal sector and progress organisations on various jobs in Africa relating to renewable electrical power and local climate modify coverage power venture development and funding private equity mergers and acquisitions intercontinental arbitration immigration and work intellectual residence and technologies.

Director of the ICC Institute of Entire world Business enterprise Law Sybille de Rosny-Schwebel said: “We are delighted to welcome the new members the ICC Institute and am seeking forward to their various contributions that will push our forward-on the lookout function programme and growth.”

Study extra about the Institute of Globe Company Regulation, and the hottest additions to the ICC Institute of Planet Company Regulation Council.

For further more facts, make sure you get hold of:

Valentina Riccardi

Job Officer, ICC Institute of Entire world Enterprise Legislation

Speak to

September 25, 2022

‘Unbelievable’: Car crashes into Pawtucket business

PAWTUCKET, R.I. (WPRI) — Friday was a aggravating day for Carlos Valencia, president of Thoroughly clean Administration, Inc. in Pawtucket, who woke up at 5 a.m. to a simply call from an worker stating there experienced been an incident at his facility on Weeden Road.

When he arrived, Valencia identified the fence at the entrance had been smashed, and the entrance of a person of his organization vans sustained critical entrance-finish problems.

The culprit: a sedan, caught on surveillance video clip, rushing down Moshassuck Valley Industrial Highway close to 3:40 a.m.

The van hit the fence and barrier outside the house his small business in advance of briefly going airborne and slamming into a parked enterprise van, pushing it into the auto subsequent to it.

“It’s unbelievable, the speed that they arrive into the facility, not to get them selves killed, or wounded,” Valencia told 12 Information.

Valencia claimed the cars are frequently avenue racing on that extend of road, and he’s fed up.

“To a stage that I do not even resolve the entrance of my constructing any more mainly because of that,” Valencia said. “We know at some point it will occur.”

In simple fact, it has occurred prior to.

In 2018, 12 Information claimed about a similar problem at Clear Management, Inc., when cars were being caught on digicam crashing into Valencia’s business, harming home and worrying employees.

“The window broke due to the fact he hit the again end of a single of our cargo vans, that spun out of management and strike the trailer and obtained trapped in the side of our developing,” Tatiana Valencia, typical manager of Clean up Administration, Inc. advised 12 Information at the time.

Valencia claimed due to the fact then, they’ve place in more stability cameras and strengthened barriers about the business enterprise to attempt and protected their home.

He has also spoken to the Pawtucket Police Department and the city, who he explained are conscious of the problem and have assisted install protective barriers.

But Valencia believes much more requirements to be carried out.

“They’ve got to place a little something in below alongside this highway to cease people today executing this,” Valencia stated. “It’s a continuing circumstance. It does not prevent.”

Valencia tells 12 Information he’s hoping for modify sooner relatively than later.

“Eventually we’re heading to have a fatality below in this intersection,” Valencia mentioned. “It’s heading to take place.”

12 Information reached out to Pawtucket Law enforcement Section for far more details with regards to Friday morning’s crash but have not yet listened to again.

September 23, 2022

U-M business law scholar: Allegations in NY civil suit against Trump detailed, though delays likely

FACULTY Q&A

White-collar crime expert Will Thomas says the lawsuit filed Wednesday by New York’s attorney general against former President Donald Trump, his family and their various business organizations contains allegations that are “detailed and factually specific.”

Still, the assistant professor of business law at the University of Michigan’s Ross School of Business says starting from a “very strong legal position” may not be enough to overcome Trump’s history of “delaying and deflecting legal proceedings for as long as possible.”

Thomas, a lawyer who once focused on securities litigation and white-collar enforcement matters in private practice, discusses where things stand with the lawsuit and where they might—or might not—go from here.

What is the essential case here?

At its core, this lawsuit alleges all the defendants have for years perpetrated “persistent,” “repeated” acts of fraud and illegality against the people of New York in carrying out Trump’s various real estate businesses. New York Attorney General Letitia James’ complaint identifies over 200 separate incidents in a 10-year period, ranging from falsifying records, tax fraud, insurance fraud and criminal conspiracy.

Is this a criminal lawsuit? Is it related to New York’s criminal lawsuit against Trump?

This is a civil lawsuit that is separate from the criminal charges being brought against the Trump Organization and its former CFO, Allen Weisselberg. Although some of the same issues will arise in each proceeding, there is likely to be very little overlap in terms of information shared by lawyers for New York. Grand jury proceedings are secret, so the AG’s office will likely go out of its way to avoid even the appearance that it is getting information from prosecutors.

Will it result in a criminal lawsuit?

The AG’s complaint alleges the defendants committed multiple New York state and federal crimes—allegations include falsifying business records, conspiracy, insurance fraud and tax fraud. Because this is a civil lawsuit, the AG won’t have to prove beyond a reasonable doubt that any of these crimes occurred; civil lawsuits have a much lower standard of proof.

At the same time, losing this lawsuit wouldn’t result in any of the defendants being found guilty of a crime, and it wouldn’t even necessarily mean that they would be criminally prosecuted. On the other hand, neither does this lawsuit rule out the possibility of future criminal charges. And although not strictly part of this lawsuit, AG James went out of her way during a press conference to say that her office had sent its findings to the federal government, in case its prosecutors wanted to pursue criminal charges for tax fraud.

Why does it matter that AG is suing?

New York state law allows its attorney general to bring a lawsuit against a person engaged in “repeated fraudulent or illegal acts.” Because this statute exists to protect the people of New York from deceptive business practices, it does not require the attorney general to prove the sort of intentional or willfulness elements that often stymie many other fraud lawsuits.

Nor does she need to prove that specific individuals were harmed or injured by the fraud. As a result, the attorney general is likely starting from a very strong legal position in this lawsuit. (This is not to suggest that James won’t be able to prove willful fraud and illegality occurred—the complaint clearly alleges that it did—but just that the AG doesn’t necessarily need to clear that hurdle to prevail.)

There are other advantages that the AG brings to the table. State law gives the attorney general broad investigatory powers, including the ability to subpoena documents and compel witness testimony, which made it possible for her to have already gathered ample evidence to support the case spelled out in its 200-plus page complaint.

Moreover, the AG can pursue different remedies than a private party could, which could spell serious trouble for Trump, his family and his businesses.

How strong is the case?

The allegations are detailed and factually specific, suggesting the attorney general’s office has gathered lots of evidence to support its claims. Real estate valuations are notoriously fickle, which is why it can be difficult to prove that valuations were fraudulent, as opposed to just mistaken or innocently optimistic.

Anticipating this challenge, the complaint focuses first and foremost on objectively probable falsehoods. For example, the AG claims that Trump lied about the size of his penthouse in Trump Tower, tripling the square footage of the unit in a manner that led him to value the property at a staggering $327 million.

One additional reason why it matters that this lawsuit is civil, rather than criminal, is that Trump and Weisselberg have both refused to testify in response to subpoenas from the attorney general’s office. (Several of Trump’s children reportedly testified on their own behalfs.) But while the Fifth Amendment prevents someone’s silence from being used against them in a criminal case, that same silence can be interpreted against the defendant in a civil lawsuit.

Accordingly, Trump may already have missed his opportunity to argue that certain records or valuations were harmless. A judge or jury can be expected to draw a negative inference from his prior refusal to testify during his scheduled deposition last spring.

What could happen if Trump loses?

The complaint is asking for a court to impose dramatic penalties, including disgorgement of about $250 million in past profits and proceeds, the dissolution and winding up of Trump’s New York businesses, and a five-year ban on Trump and has family members serving in executive positions for other companies.

These are draconian remedies, and a court’s willingness to impose them will turn on how convincing the attorney general’s eventual case proves to be at trial. For example, courts are historically reluctant to forcibly dissolve an existing corporation, even though they have the legal power to do so. Expect a court to insist on strong evidence of ongoing, future harm to the public before it entertains this possibility.

What might come next?

The attorney general’s announcement comes after public reporting that her office was unable to reach a settlement with Trump and the other defendants. However, a settlement is still possible—filing this complaint might have served to provide the AG’s office additional leverage in negotiations.

Meanwhile, Trump has consistently demonstrated a strategy of delaying and deflecting legal proceedings for as long as possible, including by reaching out to other judicial actors to intervene. Expect that something similar will happen here, including a request by Trump to have a federal court intervene and stop these proceedings.