Trump can't secure $454 million appeal bond in New York fraud case, his lawyers say
Last edited Mon Mar 18, 2024, 01:32 PM - Edit history (1)
Source: CNBC
Published Mon, Mar 18 2024 10:26 AM EDT Updated 54 Min Ago
Former President Donald Trump has been unable to obtain an appeal bond to secure a $454 million civil judgment against him in a New York business fraud case, his attorneys said in a court filing Monday. Lawyers for Trump and his co-defendants said it has been impossible for them to secure a complete appeal bond, which would effectively require cash reserves approaching $1 billion, which neither the former president nor his company has.
Trumps team has approached, without success, around 30 surety companies through four separate brokers as he seeks an appeal bond, and they have spent countless hours negotiating with one of the largest insurance companies in the world, according to the filing with the Appellate Division of Manhattan Supreme Court.
Under New York court rules, Trump must post an appeal bond if he wants to avoid New York Attorney General Letitia James moving to collect on the fraud judgment in the states favor. James has said she will seize Trumps property if he is unable to pay the entire judgment or obtain an appeal bond. Trumps lawyers in their filing said that if the appellate division considers denying a stay of the judgment, it should schedule oral arguments on the issue.
And the attorneys asked that if the division declines to grant the stay, they be allowed to ask the Court of Appeals, the highest state court in New York, to pause the judgment without Trump having to obtain an appeal bond in the full amount. Manhattan Supreme Court Judge Arthur Engoron in February ordered Trump and his co-defendants to pay a total of $464 million in damages and interest for violating a New York anti-fraud statute.
Read more: https://www.cnbc.com/2024/03/18/trump-cant-secure-454-million-appeal-bond-in-new-york-fraud-case-his-lawyers-say.html
Link to court filing (PDF) - https://t.co/COb47uF6JG
( LetMyPeopleVote )
Article updated.
Previous articles -
Former President Donald Trump has been unable to obtain an appeal bond to secure a $454 million civil judgment against him in a New York business fraud case, his attorneys said in a court filing Monday. Lawyers for Trump and his co-defendants said it has been "impossible" for them to secure a complete appeal bond, which would effectively require "cash reserves approaching $1 billion," which the former president or his company do not have.
Trump's team has approached, without success, around 30 surety companies through four separate brokers as he seeks an appeal bond, and they have spent "countless hours negotiating with one of the largest insurance companies in the world," according to the filing with the Appellate Division of Manhattan Supreme Court.
Under New York court rules, Trump must post an appeal bond if he wants to avoid New York Attorney General Letitia James moving to collect on the fraud judgment in the state's favor. James has said she will seize Trump's property if he is unable to pay the entire judgment or obtain an appeal bond. Trump's lawyers in their filing said that if the appellate division considers denying a stay of the judgment, it should schedule oral arguments on the issue.
And if the division declines to grant the stay, the attorneys asked that they be allowed to ask the Court of Appeals, the highest state court in New York, to pause the judgment without having to obtain an appeal bond in the full amount. Manhattan Supreme Court Judge Arthur Engoron in February ordered Trump and his co-defendants to pay a total of $464 million in damages and interest for violating a New York anti-fraud statute.
Donald Trump cannot obtain a bond to secure the $454 million civil business fraud judgment against him as he pursues an appeal of the case, his attorneys said in a New York court filing Monday. Attorneys for Trump and his co-defendants the fraud case argued that it was "impossible" for them to secure a complete appeal bond, which would "effectively" require "cash reserves approaching $1 billion."
"Defendants' ongoing diligent efforts have proven that a bond in the judgment's full amount is "a practical impossibility," the lawyers wrote, quoting an affidavit in the filing with the Appellate Division of Manhattan Supreme Court.
They said they have approached roughly 30 surety companies through four separate brokers, and that they have spent "countless hours negotiating with one of the largest insurance companies in the world."
The lawyers said that if the appellate division considers denying the requested stay of the judgment, it should schedule oral arguments on the issue. And if the division declines to grant the stay, the lawyers asked that it allow them to file an appeal with the Court of Appeals, the highest state court in New York.
Donald Trump cannot obtain a bond to secure the $454 million civil business fraud judgment against him as he pursues an appeal of the case, his attorneys said in a New York court filing Monday. Attorneys for Trump and his co-defendants the fraud case argued that it was "impossible" for them to secure a complete appeal bond, which would "effectively" require "cash reserves approaching $1 billion."
"Defendants' ongoing diligent efforts have proven that a bond in the judgment's full amount is "a practical impossibility," the lawyers wrote, quoting an affidavit in the filing with the Appellate Division of Manhattan Supreme Court.
They said they have approached roughly 30 surety companies through four separate brokers, and that they have spent "countless hours negotiating with one of the largest insurance companies in the world."
Manhattan Supreme Court Judge Arthur Engoron in February ordered Trump and his co-defendants to pay a total $464 million in damages and interest for violating a New York anti-fraud statute. Of that total, Trump was ordered to pay $454 million. Trump's post-judgment interest continues to accrue at a rate of nearly $112,000 a day.
Donald Trump cannot obtain a bond to secure the $454 million civil business fraud judgment against him as he pursues an appeal of the case, his attorneys said in a New York court filing Monday. Attorneys for Trump and his co-defendants the fraud case argued that it was "impossible" for them to secure a complete appeal bond, which would "effectively" require "cash reserves approaching $1 billion."
"Defendants' ongoing diligent efforts have proven that a bond in the judgment's full amount is "a practical impossibility," the lawyers wrote, quoting an affidavit in the filing. They said they have approached roughly 30 surety companies through four separate brokers, and that they have spent "countless hours negotiating with one of the largest insurance companies in the world."
Trump earlier this month obtained a $91.6 million bond from the Chubb insurance company to secure a civil defamation judgment against him in favor of the writer E. Jean Carroll while he appeals that judgment.
This is breaking news. Please check back for updates.
Donald Trump cannot obtain a bond to secure the $454 million civil business fraud judgment against him as he pursues an appeal of the case, his attorneys said in a New York court filing Monday.
This is breaking news. Please check back for updates.
Original article -
This is breaking news. Please check back for updates.
no_hypocrisy
(46,160 posts)Captain Zero
(6,823 posts)That's some capitalism for ya!
He and his cult is always humping the capitalism.
Short sale at auction.
I think this means he has NO property that is not LEVERAGED.
That's why none of the companies that loan want to deal with him at this point.
getagrip_already
(14,825 posts)Bwahh haaa haaa.
Omnipresent
(5,720 posts)Its seizure time!.. once trumps properties are, he will have one!
bringthePaine
(1,730 posts)calimary
(81,441 posts)TeamProg
(6,206 posts)[link:|
brer cat
(24,596 posts)who are suddenly caught short. (Shouldn't be necessary, but just in case)
Irish_Dem
(47,324 posts)thesquanderer
(11,990 posts)Irish_Dem
(47,324 posts)CrispyQ
(36,502 posts)This was a nice bit of news for a Monday morning!
Irish_Dem
(47,324 posts)calimary
(81,441 posts)Kennah
(14,304 posts)BlueKota
(1,774 posts)Irish_Dem
(47,324 posts)Which is why he took them in the first place.
Poor Donald, my heart really goes out to the poor guy. What on earth did he ever do to deserve all this???
peppertree
(21,657 posts)For shame!
"And I told the fat, orange slob - in the words of your great fellow American, Janet Jackson: 'What have you done for me lately?'"
PatSeg
(47,573 posts)But hey, he's still good for laugh from their perspective.
peppertree
(21,657 posts)They must refer to him as "that fat, old harlot who still thinks he's attractive."
To which the other one adds, "Like that Senator Lindsey!"
PatSeg
(47,573 posts)Wouldn't you just love to be a fly on the wall when they talk behind his back? Putin tends to be very obvious when he is with Trump and Trump is so clueless, not aware he is being ridiculed. Often it is so easy to use an insecure, vain man and Putin is a master at it.
Sadly for Trump, eventually it all gets old and he's not even useful as the brunt of a joke. With Trump, it is the same old routine over and over again. He ran out of new material a long time ago.
peppertree
(21,657 posts)The problem is that that fat bastard's daddy issues are just a 1% swing in 3 states from becoming a national security nightmare - and of course, a constitutional one.
Biden's people really need to hammer that "daddy issues" point home. Besides being true, I know it's something many can relate to - either in themselves, or by seeing it in loved ones.
PatSeg
(47,573 posts)are men with serious daddy issues. George W. Bush was a prime example - he just HAD to invade Iraq because he wasn't half the man his father was. Ironically George H.W. Bush also had daddy issues, but not nearly as badly as young George.
Then you have people like Bill Clinton and Barack Obama, who really didn't know their fathers and had a stronger maternal influence. They seemed more centered and comfortable in their own skin. And of course, Joe Biden had great parents and a very close knit family. It certainly shows.
To me, daddy issues is always a huge red flag whether in a leader or a partner.
peppertree
(21,657 posts)Men, my dear Italian great-grandmother used to say, are children.
I know I am.
It's just that there are children - and there are children.
PatSeg
(47,573 posts)Ideally, a child has both a good mother and father, but I've found that no father is better than a bad father. In Trump's case, I'd say that he had a really bad father and that to this day he is still stuck developmentally at the age of about 12 years old, maybe even younger.
Donald is a prime example of the incredible damage that one toxic parent can cause.
peppertree
(21,657 posts)That's why, when I see Trump, I see so much of my own dad - even the birthday (two days off).
Though at least, he's a talented engineer who's actually done a lot for national security (unlike Cheeto!) - and by all accounts a consummate professional and a great colleague.
But he always made a sport of contradicting my mother's usually very good advice - and still has to work in his 70s as a result (heart condition and all).
Oh, the ironies of life. Intelligence and common sense, as you know, are two very different things.
Trump, of course, has neither.
smb
(3,474 posts)Why won't anybody lend him money to pay the judgment against him for cheating people who lent him money?
InstantGratification
(162 posts)He can still move forward with his appeal, but as soon as the deadline to post the appeal bond passes, AG James can start filing motions to freeze accounts, put liens on property and order the sale of assets. Happy Days Are Here Again!
PS I wonder what a used 757 goes for these days????
PatSeg
(47,573 posts)Hopefully we'll get to see his whole "empire" unravel in real time.
BlueKota
(1,774 posts)PatSeg
(47,573 posts)I feel like we're reaching the climatic moment in the movie where the audience stands up and starts cheering!
ArkansasDemocrat1
(1,223 posts)InstantGratification
(162 posts)Live stream that shit, it would be....
g l o r i o u s
Ray Bruns
(4,110 posts)Grins
(7,227 posts)Cost to repaint one of them.
coprolite
(182 posts)calimary
(81,441 posts)NanaCat
(1,231 posts)So 1 week from now.
magicarpet
(14,164 posts)Only FIRST - first class for President Smelvis Pantload.
calimary
(81,441 posts)Mike Nelson
(9,966 posts)... looks like Melania will have to hock the family jewels...
Irish_Dem
(47,324 posts)(She is obsessed with expensive shoes. )
Also lots of couture clothing and jewels.
Time to have a garage sale.
TomCADem
(17,390 posts)...Trump could always start transferring assets to Melania's name, which is risky for him, because she could just walk out on him. Though, if she threatened to do so, then I can see Trump arranging with his friend Putie to take care of her the way Putie is known to handle things.
Irish_Dem
(47,324 posts)Yes Melania would walk out with them.
But she is smart enough to make sure Trump cannot touch the assets in the event of her death.
TomCADem
(17,390 posts)...to avoid judgments. If Trump was not running for President, he probably would transfer assets out from his name, declare bankruptcy, slow collection efforts until his creditors agree to settle on pennies on the dollar.
Plus, with Trump running for President, there are probably a lot of countries that will be willing to assist him in transferring any assets he has off-shore.
Irish_Dem
(47,324 posts)His properties are heavily mortgaged, so he took out all the equity a long time ago.
And stashed it some where.
Unless he already spent it, and then he is broke.
TomCADem
(17,390 posts)
how could you collect a judgment on it, since the mortgage would have a higher lien priority?
The problem for Trump is whatever income streams he is using to pay lawyers. Perhaps Trump could use the RNC to pay his legal bills?
Irish_Dem
(47,324 posts)Trump was always robbed Peter to pay Paul kind of thing.
They courts are thinking they will have to liquidate a number of properties
to get the judgement, because they have to pay off the mortgage holders first.
Yes Trump is very clever about getting others to pay his bills.
The RNC will pay his legal bills, and it looks like he may have some sugar daddies
willing to help him out.
SWBTATTReg
(22,156 posts)as businesses etc. move into a different mode of operating, thus, djt's market (office buildings etc.) is declining day by day.
I hope that the Courts and such don't collect just on assets like buildings. They're white elephants (the entire office building market is).
Irish_Dem
(47,324 posts)Thought space in NYC may always be at a premium.
Convert it to housing which is in high demand.
I assume the courts are going to do an assessment so they know the exact value of all Trump assets.
The real value, not Trump's fraudulent valuations.
SWBTATTReg
(22,156 posts)aren't that easily converted, from what I heard, the layouts of office complexes and residential complexes isn't so easy.
oldsoftie
(12,587 posts)Oh the humanity.
PatSeg
(47,573 posts)but geez, I'm really strapped for cash this month!
CrispyQ
(36,502 posts)Prairie Gates
(1,049 posts)oldsoftie
(12,587 posts)Captain Zero
(6,823 posts)to pay it if he got elected in November?
We need PAC ads to ask that ❓
LetMyPeopleVote
(145,496 posts)Here is a link to TFG's filing
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=LkIQgg7Dg2GXrJ4iSoe3tA==
Link to tweet
Link to tweet
BumRushDaShow
(129,376 posts)Will add to the OP!
LetMyPeopleVote
(145,496 posts)mopinko
(70,198 posts)i dropped a sick dog off at the vet this morning. bloody diarrhea. she had me up every 2 hrs the last 2 nights. i fd up the online appt, which was for tomorrow not today so i had to leave her.
and its cold and gloomy here. its starting too snow.
but damn, i feel like im on the beach in hawaii now.
the puppers is OK.
mopinko
(70,198 posts)she got ahold of some 4 day old leftover sushi which i expect was bad to begin w. ive been having issues myself. theyre starting her on meds.
LiberalFighter
(51,054 posts)or make it 10 mini-bonds and he can say he posted the most bonds in all of history. Making him the greatest billionaire of all time.
Hermit-The-Prog
(33,403 posts)Think. Again.
(8,361 posts)Think. Again.
(8,361 posts)...who couldn't afford to appeal a court ruling.
Sogo
(4,992 posts)nt.
Think. Again.
(8,361 posts)It's nice to bring him down a notch or two!
democrank
(11,100 posts)Not enough cultists buying Trump steaks and Trump hats? Maybe Sir should get together with his brilliant sons and organize a fundraiser. They can just say the money will be used to help children with cancer. Or, Trump can direct his daughter-in-law to make daily deposits to his account from the RNCs war chest.
CrispyQ
(36,502 posts)sheshe2
(83,875 posts)I thought he was a billionaire the likes you have ever seen and banks were falling at his feet begging him to take out a loan with them.
LonePirate
(13,431 posts)Why wont Jared pony up the money he received from the Saudis?
70sEraVet
(3,508 posts)Irish_Dem
(47,324 posts)thesquanderer
(11,990 posts)Irish_Dem
(47,324 posts)mucifer
(23,560 posts)underpants
(182,868 posts)Delphinus
(11,840 posts)sell the place where Ivana is buried so we can dig up her grave and see what's in the coffin.
bello
(100 posts)You are getting this reply because the latest DU update wont let me recommend your comment multiple times. In EarlGs defense however, if he let me rec it multiple times, Id just be sitting here pounding on the rec button until something broke.
Delphinus
(11,840 posts)I really needed that laugh! Belated welcome to DU!
NanaCat
(1,231 posts)That if he loaned that money, he'd learn why Bone Saws earned that appellation.
LetMyPeopleVote
(145,496 posts)Wuddles440
(1,126 posts)but I will not get really giddy until there's an actual assault on his assets. This scum has been drowning on many occasions throughout his miserable life and always manages to find someone to throw him a life preserver to bail him out.
boyedav1969
(94 posts)...to ensure the judgement is paid.
Brainfodder
(6,423 posts)bucolic_frolic
(43,258 posts)No wonder no one wants to underwrite it. The collateral is almost as soft as the doofus asking for money.
Botany
(70,567 posts)BumRushDaShow
(129,376 posts)is just the licensing of his name on a property (where he gets some kind of compensation for that).
Attilatheblond
(2,197 posts)BUT... since most of the (rich) people who liked golf are literally dying off, maybe he could market some of those properties as swanky cemeteries. He's already got that started what with that fancy and dignified grave he provided the ex-wife whose NDA had expired about the same time she did.
Sogo
(4,992 posts)Is that true?
Attilatheblond
(2,197 posts)Then, reporting on the NDA expiration was suddenly not mentioned. The NDA was part of their divorce settlement but it was required to have an expiration date. If she violated the NDA, she would have been out lots of bucks. Funny about expiration dates and TOD.
I wonder, how does a woman fall down a big flight of stairs and NOT get any head injuries? And when it was first reported, it was reported that Gums was home with her but delayed calling 911 for a good spell, I seem to recall reading 90 minutes.
So, donning my tinfoil hat, I suggest it was Gums, at the bottom of the stairs, with a bag of oranges. Anything for daddy?
Sogo
(4,992 posts)Attilatheblond
(2,197 posts)getagrip_already
(14,825 posts)Surely he could get a bond on that alone?
Attilatheblond
(2,197 posts)as the "southern White House"?
IbogaProject
(2,834 posts)He would have to have around $545 million in stocks, bonds, not parcels of real estate, and he needs at least $18 million in cash.
getagrip_already
(14,825 posts)If the property is worth that much, surely a bank will loan him cash on its value.
Same with his other properties. Especially with his beautiful brand attached.
Yes, that is sarcasm.
Insurance companies are not loan collectors. They don't foreclose on properties and take them to auction. They deal in liquid assets.
Banks deal in property and real assets that need to be sold to become monetized. So banks will frequently back end an insurance company and provide them a letter of surety, which means they will pay them back x dollars when they eventually foreclose and liquidate the collateral they are holding. The insurance company then provides the surety bond to the court.
Insurance companies are good at managing large sums of unplanned monetary outlays. Banks are good at foreclosures and auctions.
Odd there was no combination that could be made to work here, no?
Botany
(70,567 posts)He is not a billionaire
Bond agencies dont want to risk their money
The interest alone on his penalties is growing daily
87 K per day
I see Flynn and or Roger Stone going to MBS, Putin, or shits like Harlan Crow
to get the money for his bond.
Btw Trumps appealing the case doesnt change a bond companys decision not
too put up the money for his bond
Who wants to go to NYC to watch them take down the gold lettering from the Trump
Tower in Manhattan?
dchill
(38,521 posts)Jose Garcia
(2,601 posts)CrispyQ
(36,502 posts)underpants
(182,868 posts)Marthe48
(17,015 posts)pointing his bat at where the ball will go.
I see him as The Mighty Casey striking out. Over and over.
Wednesdays
(17,402 posts)MOMFUDSKI
(5,627 posts)Sale!!!!
dchill
(38,521 posts)muriel_volestrangler
(101,355 posts)https://www.whitehouse.gov/briefing-room/speeches-remarks/2024/03/17/remarks-by-president-biden-at-the-gridiron-club-and-foundation-dinner-march-16-2024/
Orrex
(63,220 posts)I love it!
underpants
(182,868 posts)machoneman
(4,007 posts)...me not surprised. I do hope the judge demands all the records, and quickly, of all the negative replies from possible surety coverages.
Why? I suspect that TFG asked for far more ($1 billion? Gimme a break!) than required to ensure his request would be denied, which they did. Goal is to delay the posting by any means. Hopefully, the judge will quash any motion to delay the posting.
getagrip_already
(14,825 posts)To judge Kaplan when he already had a bond agreement in place for at least 2 days.
He lied to a federal judge.
I hope the fa throws that in his face.
patphil
(6,204 posts)If this article is accurate, he could post the bond.
https://time.com/6589369/donald-trump-net-worth-estimations/
But if he can't, then maybe he doesn't have the cash they say he has.
Or maybe he has the money, but thinks he can get away without posting such a huge bond while on appeal.
Either way it's a huge fail for him. The more he resists, the more the judicial python tightens it's grip on his wealth.
This turkey is about to get plucked.
Justice matters.
(6,939 posts)Orrex
(63,220 posts)Well that's bad news for Trump's lawyers, because if the hours are "countless," then he'll insist that he cant be billed for them.
Hell, he wasn't going to pay anyway, but now they've given him an excuse.
Ray Bruns
(4,110 posts)Bev54
(10,067 posts)bmichaelh
(385 posts)Why does the fake billionaire not go to one its true billionaire friends.
It has often been reported that Putin is one of the richest men in the world, if not the richest.
But Putin wants to keep a big part of his wealth hidden.
He could pay Trump's bond easily.
rpannier
(24,336 posts)are not helping il douche out
Orrex
(63,220 posts)Bev54
(10,067 posts)Ford_Prefect
(7,918 posts)minute in the other case. If he genuinely defaults on this much more is at stake than his buildings and properties. He's begging his followers for this and playing them for suckers while claiming he's an abused businessman. Trump's real cash assets are offshore somewhere. in addition he has people of influence like the CEO of CHUBB, waiting for the phone to ring. I suspect some of the same names we'd find in Epstein's special friend address book are on Trump's list as well.
marble falls
(57,172 posts)fire sale his shit.
rubbersole
(6,723 posts)...are all checking their couch cushions for anything to help you through these tough times. They want a place to send it...you should set up a Go-Fuck-Me account...
dlk
(11,575 posts)It looks like his house of cards may falling soon
Joinfortmill
(14,449 posts)greatauntoftriplets
(175,749 posts)TomCADem
(17,390 posts)...this just means that the State's efforts to collect the judgment can proceed while the appeal is pending.
However, this does hurt Trump, because Trump normally uses the court process just to delay trials and the collections of judgments. In the case of the NY state civil fraud judgment, the State can begin efforts to collect on the judgment against various Trump properties, though I am sure Trump is already well ahead of the game in terms of hiding his assets. Or, maybe he will get Putie or a Saudi Arabian King to front the money for him.
Finally, I am sure that Trump will continue to litigate and stall out efforts by the State to collect the judgment.
BumRushDaShow
(129,376 posts)They are floating this out here a week before in order to garner sympathy.
TomCADem
(17,390 posts)
just means he cant automatically stop enforcement efforts. I am surprised that Jared Kushner can get hundreds of millions in contracts from the Saudi government, but Trump himself cant get a more lucrative deal or use Jared to launder money with Jared then paying for Trumps legal bills out of a sense of familial obligation.
https://www.vanityfair.com/news/2022/05/jared-kushner-affinity-partners-saudi-arabia
BumRushDaShow
(129,376 posts)I saw this this earlier morning - https://www.businessinsider.com/jared-kushner-serbia-hotel-deal-mirrors-decade-old-trump-plan-2024-3
He's trying to appeal with "no bond". That needs to be rejected since he got off from the judge not divvying out the "corporate death penalty" that AG Tish James wanted originally.
Sogo
(4,992 posts)which will prevent him from hiding assets
cayugafalls
(5,643 posts)This is freaking ridiculous.
I'm so tired of this noise.
SupportSanity
(174 posts)llmart
(15,552 posts)You mean all those years he told us he was a billionaire he was really lying to us???? I am truly surprised... NOT.
The Magats are too stupid to realize they've been had.
ShazzieB
(16,497 posts)On paper! The problem is that most of his wealth is tied up in leveraged real estate holdings.
Blue Owl
(50,490 posts)ArkansasDemocrat1
(1,223 posts)"What's in your luggage, sir?"
"Rotting fruit and 3 month old eggs"
twodogsbarking
(9,795 posts)CaptainTruth
(6,600 posts)...against it, Trump rushed in with lawyers & money & stopped it.
Methinks if something similar happens in this case he won't have enough lawyers or money to stop it.
calimary
(81,441 posts)Is it wrong that Im smiling?
Response to CaptainTruth (Reply #86)
NanaCat This message was self-deleted by its author.
Solly Mack
(90,780 posts)Snort.
PurgedVoter
(2,218 posts)Welcome to the rules the rest of us have to follow, mr orange menace.
NanaCat
(1,231 posts)But without a surety bond or cash to cover the judgment to protect his assets for the appeal, Tish James can start seizing assets to collect on the judgment.
Dorn
(523 posts)meow2u3
(24,771 posts)because that's how much pity I have on him: zero!
ArkansasDemocrat1
(1,223 posts)[link:?1664809742|
republianmushroom
(13,670 posts)Now donald is have to live with his consequences.
brooklynite
(94,713 posts)BannonsLiver
(16,439 posts)Both are run by terrible people. Are you saying they arent?
Jarqui
(10,130 posts)filing for bankruptcy from Trump as Trump has done it 6 times.
Maybe Rudy can help his old partner in crime and deceit and remind him how it is done.
riversedge
(70,286 posts)I really do not know how much money Trump really has but it is a given that he has money in his properties--buildings, golf courses etc.
I wonder if Trump put up his buildings and golf course as collateral????
Alina Habba says Trump is worth 14 billion dollars
Donald Trump tells the court that it is impossible for him to come up the bond
30 surety companies have allegedly rejected Trump. He wants the court to let him appeal without the bond.
14 billion dollars and you cant come up with that small change. I think Alina misplaced a decimal and his net worth is 1.4 billion if that.
This sounds like Trump wants the court to deny him so he can go right to the SC claiming the state bond law is unconstitutional in its application.
Link to tweet
?s=20
BumRushDaShow
(129,376 posts)I doubt any of it is "liquid", i.e., it is leveraged for other stuff and/or has mortgages associated.
He's going to have to file for bankruptcy (he did so 6 previous times for his other entities including casinos).
mwooldri
(10,303 posts)I tell you I have more than this in the bank...
_.webp
Marcuse
(7,506 posts)BumRushDaShow
(129,376 posts)iluvtennis
(19,868 posts)TBF
(32,086 posts)he could "get a job", "have a garage sale", "stop eating cheetos, get up off the couch, and work", "don't expect others to bail you out", "pay your obligations", etc. and so on. They had a lot of super ideas of how folks should pay off predatory student loans, so I think they will just apply all those solutions here!
ShazzieB
(16,497 posts)Give up avocado toast and Starbucks!
Seriously, I dont know how many times I've heard it said that those spoiled millennials would be able to pay their bills if they would just give up avocado toast and stop buying expensive coffee at Starbucks.
Except in TSF's case, the advice would have to be amended to something like giving up Diet Coke and KFC!
BobTheSubgenius
(11,564 posts)That is so unfortunate. And unfair. Let's not let the unfairness fall by the wayside; hopefully, the brain-damaged jackal will remind everyone of the unfairness of it. Loath though he is of whining self-pity.
Hassin Bin Sober
(26,335 posts)riversedge
(70,286 posts)qwlauren35
(6,150 posts)I'm in an airport and don't to have to explain. But DAYUM this is funny.
Scalded Nun
(1,236 posts)I can't wait to see how he sells this to his flock sheepidiots.
onetexan
(13,057 posts)Kennah
(14,304 posts)JT45242
(2,286 posts)As must of us suspected, he is upside down on a lot of properties.
Let's say he has 10 percent real equity on the $3 billion of properties.
That's just $ 300 million. That's not enough to cover the default when he loses.
The Saudi and Russians know he can't win the election, so no longer worth throwing away money to.
Hus whole fragile ego is about to collapse.
Jacson6
(352 posts)He has the assets to secure a bond. If he won't do it then they should deny his appeal.
Novara
(5,851 posts)He's not going to be able to unload any of his tacky properties in a week. And if he sells them, everyone will know how little they really are worth.
What's more, he just admitted to the world that he's broke. Creditors are gonna want their money before he pays the judgment, so you can bet they're watching his every step. If he's too broke to pay the judgment, he's too broke to pay them. I'm sure the court is watching his every step as well to make sure he doesn't hide money.
How much does the RNC have on hand? I'm thinking not enough to pay this.
Of course, it's possible he's lying and pleading broke to get the court to settle for less, but then again, his ego probably wouldn't have the world think he's broke.
What a great Monday!
calimary
(81,441 posts)You nailed it, Novara: What a great Monday!
Saw this at about 9am. Absolutely fantastic news to wake up to!
stage left
(2,965 posts)NanaCat
(1,231 posts)So jail isn't an option here.
Why it's called civil court, not criminal.
AverageOldGuy
(1,542 posts)-- GoFundMe?
-- Stand on a NYC street corner with a sign: Will commit bloodbath for cash. ?
-- Melania could go back to escort work?
-- Jareds Saudi friends?
-- Putin?
-- A payday loan?
Come on, gang, this is serious -- Im just trying to be helpful.
JoseBalow
(2,429 posts)Fuckface: "Who gave you the $5?"
Melania: "Everyone."
angrychair
(8,733 posts)Can't come up $600 million dollars from anyone? Interesting.
barbtries
(28,810 posts)can it be that tsf has been lying for years about how rich he is?!
Hermit-The-Prog
(33,403 posts)Please. Carry on.
BumRushDaShow
(129,376 posts)calimary
(81,441 posts)intrepidity
(7,335 posts)Future dictionaries could use this example to illustrate "irony".
Irony: A litigant accused and convicted of defrauding financial investors and of misrepresenting asset values, is unable to convince financial institutions to lend him money to fight the aforementioned conviction. Irony.
BWdem4life
(1,688 posts)ShazzieB
(16,497 posts)I'm sure they could. IF they wanted to!
AllyCat
(16,216 posts)It would have happened to any of the rest of us long ago.
durablend
(7,464 posts)Maybe he could get a job or something? I mean that's what Republicans are always telling everyone else to do instead of "freeloading"
agingdem
(7,853 posts)and while he was enjoying the perks of the office.. the nice plane/Diet Cokes/Secret Service wiping his ass/the media kissing his ass, his businesses and tax returns came under intense scrutiny...for decades Donnie had dodged paying his debts by intimidation and threats but with the spotlight shining on everything Trump, he was exposed as a conman/tax cheat/fraudster on a grand scale having stiffed the IRS and finagled the numbers to secure business loans...and Mr. Not a Billionaire Trump was slammed with half a billion dollars of accountability..half a billion dollars he doesn't have and no reputable bonding insurer will underwrite...wow!
jmbar2
(4,905 posts)And his army of MealTeam6 Magats cannot fix this for him.
sprinkleeninow
(20,254 posts)BumRushDaShow
(129,376 posts)Haven't heard THAT term in a long time!
calimary
(81,441 posts)NanaCat
(1,231 posts)It was a civil court matter, not criminal.
3catwoman3
(24,032 posts)chowder66
(9,075 posts)DavidDvorkin
(19,485 posts)Something should be done about that. I'm sure the right wing agrees.
Yo_Mama_Been_Loggin
(108,170 posts)I've always said that.
FakeNoose
(32,726 posts)... but the Chump family is also hiding money in offshore banks. For the ultra-wealthy families that are doing this, it's almost impossible for the government to trace it. That's how the Sacklers got away with so much. We shouldn't kid ourselves - ALL the one-per-centers are doing the same thing.
What America needs to do is TAX their wealth when they get it, and not try to find it later after it has been well-hidden.
Justice matters.
(6,939 posts)and his court, his Clerk, his family...
I guess time for him to find out should come in a week or so?
BlueKota
(1,774 posts)to ask for a stay of the appeal bond? Or are his lawyers asking for more special treatment for Donny the Asshat?
JoseBalow
(2,429 posts)So weird
cstanleytech
(26,318 posts)Hikerchick57
(118 posts)Just wondering who he will sell try and sell us off to? Russia?
Progressive dog
(6,918 posts)by lying about his assets. Now he can't get a loan to pay back that money because he lies about assets.
Seems fair to me.
NanaCat
(1,231 posts)And the attorneys asked that if the division declines to grant the stay, they be allowed to ask the Court of Appeals, the highest state court in New York, to pause the judgment without Trump having to obtain an appeal bond in the full amount.
If only Tish James and the court could speak to Donnie Two Scoops in a language he acts like he could understand:
IbogaProject
(2,834 posts)Guess he isn't a Billionaire, he is just a bag of air.
Wanted to post a pic of Nelson from The Simpsons doing his Ha Ha, but I'm unable to post a pic.
NanaCat
(1,231 posts)4lbs
(6,858 posts)because they are afraid of being infected with his orange cooties?
Or did they finally look at his books, and discover that he doesn't even have enough collateral to
cover even 1/20 (5%) of that amount?
I mean, he's already on "the hook" for that $91+ million to E. Jean Carroll.
I'm sure none of these people relish (ketchup?) being second (or even third or more) in line to get their monies if they give him hundreds of millions in bond money.
That's some serious mustard for that NYC street dog.
A bucket of KFC chicken might be too rich for him now.
jmowreader
(50,562 posts)What bank, insurance company etc. is going to sign off on a half-billion-dollar appellate bond for someone who committed BANK FRAUD? Seriously guys, giving Trump a bond for this sounds an awful lot like a breach of fiduciary responsibility to me because you know any bank who does it will never see that money again.
pfitz59
(10,388 posts)No one is above the law. Seize those assets. Start with Mar Lego and his BS 'PACs' which he uses as his piggy bank.
Rabrrrrrr
(58,352 posts)I don't know that for sure, but I'm thinking that his 50+ year history of not paying his bills, declaring bankruptcy, and otherwise fucking over every single person/entity that has ever helped him (because, in his words, doing that "shows how intelligent I am!!" is the reason he can't secure any bonding.
Seems to me that if the media were, in fact, owned by the libtards, they'd be reporting that fact ad nauseum.
And I've not seen any reports that include a sentence along the lines of "despite bragging for months that he has far more than enough cash on hand to handle any fines or settlements" and/or "despite bragging for decades that he's one of the richest people in the world"...
colorado_ufo
(5,737 posts)Why doesn't Trump just go to Jared and keep the problem in the family?
Highway61
(2,568 posts)coming to his rescue...according to Rachel
https://www.nytimes.com/2024/03/18/us/politics/manafort-rnc-trump.html
BumRushDaShow
(129,376 posts)LaMouffette
(2,039 posts)Oh, and I don't believe for a minute that Ivanka and Jared will chip in one dime to help out the old man. Ivanka's daddy raised her better than to give a shit about someone else's troubles.
Kid Berwyn
(14,951 posts)Marthe48
(17,015 posts)After taxes, it wouldn't be enough to cover his bond
Jackpot total: $977 million
Cash option: $461 million
After taxes: $350.4 million