Posted on 03/20/2024 6:43:47 AM PDT by ChicagoConservative27
As Donald Trump faces a Monday deadline to post a $454 million bond in the civil fraud case against him in New York, insiders said he may be weighing a little-discussed option: Do nothing.
The ex-president reportedly has been struggling to raise the cash for the bond — either from banks or wealthy friends — with his lawyers claiming on Monday that it was a “practical impossibility.”
While some reports have raised speculation that Trump may “go nuclear” with a Chapter 11 filing to protect his prize real estate assets across Manhattan, experts said bankruptcy would create unwelcome complications as the 2024 election season comes to a head.
“He’s been there and done that,” one insider close to Trump said, dismissing the prospect of a Chapter 11 filing.
(Excerpt) Read more at nypost.com ...
We’re now almost nine years into the Age of Trump. Marxist Democrats have attacked President Trump and his supporters at their leisure for the entire time without consequence. Nothing will change because of this particular assault. Sorry.
It’s how communism operates it’s the only tool the left has.
Nope, just look at George Stephanopoulos - recently said on TV that Trump was convicted of raping that NYC hag. Trump never was, but this kind of lying goes unpunished every day.
Once seized, that is all she can get, then he can sue and clean her clock.
If they have a Sheriff sale to sell Trump Tower, would there not be an auction under New York law?
I cannot believe that the court would be able to dictate the price and parties to a Sheriff’s execution sale.
Besides, he can only auction off Trump’s leasehold interest, and then they would appoint someone to manage the building and the collection of the rents from the subtenants. They would need to arrange for insurance and the payment of the taxes. Utilities would need to be collected.
Sub-tenants’ rights would need to be respected.
Were I an insurer, and the State took the property, I would consider it a bad risk and refuse to write a policy on it.
This would not be easy for someone of Ms. James abilities. She would need to find a boyfriend with financial acumen to run the show.
if Trump tower is seized and he is no longer the owner, who will pay the real estate taxes on it? pretty sure James doesn’t have that kind of cash. and if it’s parceled out to others at lowball prices, the taxable real estate value drops like a rock. guessing new york can afford to lose more tax revenue to “get Trump”?
The bond is to secure payment of the civil judgment against Trump, and merely stops collection efforts pending the appeal. If he loses the appeal, then the bond pays and the bond company gets reimbursed by the collateral posted by the judgment debtor.
If he wins the appeal, the judgment debtor no longer has a judgment against him, and the bond is discharged, but the judgment debtor loses the premium paid for the bond (like an insurance policy).
This is not in the nature of a criminal bond to guarantee appearance in court.
New York Government mismanages EVERYTHING they touch, this will be no exception.
I still say she’s going help herself(Loot) to some Trophies
The bigger problem is his liquid cash. The state can take all of it as well as any income he receives over 35x minimum wage weekly. The state literally can force him into poverty.
If Cuomo was still Governor he'd name it Mario Cuomo Tower.
“if Trump tower is seized and he is no longer the owner, who will pay the real estate taxes on it? pretty sure James doesn’t have that kind of cash.”
They won’t have to. The state doesn’t pay itself taxes.
Exactly. Furthermore, who will be willing to risk buying it considering the risk of the appeal being successful. This could and should turn into a tar pit for the state.
For which the State would be on the hook for.
It's the reason nobody will post bond for Trump, they would also become political targets of this illegal abuse of government lawfare, who wants that.
Re: 65 - thank you for a post of sanity in a sea of ignorance.
Indeed.
This is the inevitable, and ORIGINALLY INTENDED outcome of the so-called "civil" "rights" "movement".
Yep, stealing property from Whitey, like South Africa.
La Cosa Nostra would not behave this way; it's bad for business.
“If they use the actual real estate values, that essentially negates their case from the top down”
Good point. The Trump Tower will need to be independently appraised like any other piece of real estate up for sale, correct?
Is the court now assuming that Trump Tower alone will cover Trump’s fine?
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