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 ...
If they seize Trump Tower I suppose they could rename it.
Oh man.
If she seizes it and mismanages it while under her care and custody Trump will be able to sue her when he wins his appeal.
let Letitia James seize Trump Tower and then watch her screw it up by Looting it
The Democrats think they are really clever.
This will blow up in their faces, as usual...............
I suspect they will house illegals there just to twist the knife.
I know a judge appraised Mar-a-Lago at a pathetic $18M. I worry that the NY judge will seize Trump’s NYC property and sell skyscrapers for $10M or so to friends of Biden. The judge could liquidate everything Trump owns, and realize a mere $200M from the sales. “Oh, so sorry, you are still short about $300M. Too bad for you. And you’ve lost your real estate empire for no gain at all. What a pity.”
Will he be able to Appeal after that ?
Yes but if you read the article it seems a calculated risk on DJT’s part.
“One source close to Trump insisted that he could raise funds from wealthy “friends and supporters,” but so far has not chosen this path. “
““There will be severe consequences — not an insurrection. People will stop doing business in New York. No one will take the risk, and lenders are now spooked. The real estate market is already a disaster, with office buildings worth a fraction of what they were once worth and there are metastasizing effects when a large part of the city’s budget is from real estate.”
Basically, take the bullet for a short time and enjoy watching NYshitty fall into the abyss
It’s been a long time since I’ve done taxes, but can’t you deduct loses and thefts?
IIRC, Trump Tower in New York is a condo building. Trump only owns his personal apartment, the unsold apartments that he holds in inventory, and the retail/restaurant space on the ground level (and a few floors above).
Great point
Amen
I suspect any appeal after that will in no way make him whole again.
Your scenario is a “progressives” wet dream.
Considering the state of CRE in large cities, I wonder what the “fire sale” would do to appraisal comps for banks? Certainly many investors would start demanding the same prices on their CRE purchases?!
This will blast their story of tyrannical lawfare all over the world...and it will be really bad for NYC.
Public housing units for government bureaucrats.
Actually, TRUMP could sell the furnishings at an ‘auction’ that would more than pay for the debt. Take the loss, then upgrade and decorate.
How many MAGAdonians would like a piece of the TRUMP TOWER?
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