Posted on 03/23/2024 2:40:12 AM PDT by Enterprise
One thing that is certain is that if the state of New York does somehow manage to gain control of the property, its value starts decreasing immediately and anyone who buys it from the state will be controlled by the state.
I’d expect the golf property to be mismanaged into bankruptcy within a year if NY is managing it and any partners could sue the state in federal court and win under the 8th amendment, since none of them have been convicted in court yet would be punished for Trump’s imaginary “crime.”
The problem with that approach is those holding the liens would be next up for a false investigation and then prosecution by the state of NY.
James is killing any outside money going into projects in NY yet the citizens don’t seem to care, so screw them and let them all suffer.
I know this is stepping far ahead but what happens when President Trump wins his appeals? Will the taxpayers be on the hook for all of the financial damage that moronic strumpet did?
Hate to be a broken record. I’ve said before and I will say it again. The only person that doesn’t worry about it is Trump. I obviously don’t know the man but it seems he’s got a surprise. 🤷♂️
RETARD MUTANT IS FAAAAAR TOO KIND
Do some research on who can seize cash and when.
It may surprise you—not what you think.
You might be correct. I don’t actually know. But if a State can’t seize cash via a valid judgement I’d be surprised. I guess you are telling me to be surprised!
I've prepared returns with up to 250 partners, and our CEO's individual return has at least 100 K-1s.
I hope Letitia goes ahead with her plan. She will be inundated with legal filings by the other partners.
The creditor can seize individual bank accounts if your cash is in those accounts.
Obviously you would not keep large sums of cash in bank accounts after a judgement has been made against you.
You don’t need to be a financial genius to figure out that one.
If you are wealthy you would keep your assets in entities you control like trusts, corporations, partnerships etc etc etc.
In addition you could have a “friend” who pays all your bills until the litigation is resolved with an understanding you will pay them back after everything is settled.
The “friend” could place liens on your assets to assure payment if they want assurances.
Well, I am no genius but I figured some of that out. With Trump’s luck any movement of money would be called fraud or have tax levies! If anyone can find money (an ex-wife) the government seems superior.
True! You’re right.
Every one of the Trump Organization LLPs are open season in the case verdict, even the TO’s percentage ownerships. Other sources in NYC are claiming the AG’s targets for seizure are those where Trump Org. or its officers hold clear title. We’ll have to see what she does on Monday - if anything.
Turley is a brilliant lawyer, but he’s been wrong several times now about this particular case. One of Turley’s biggest mistakes was in processing the case as a garden variety fraud case. James used the equivalent of a state civil RICO charge to paint the entire Trump Org. as a criminal racket. Perhaps there’s an appeal available for that, but I’m less hopeful now.
It’s not as simple as you make it sound. If I hold those buildings as collateral on a loan, I would block seizure until the loan is satisfied.
Good posts.
There are a couple of people at work that are absolutely giddy that AG James will lock up Trump Tower. When I mentioned that there’s people that live there and may have leaseholder rights that entities them to due process if those rights are diminished, and that President Trump is not the sole owner of that building, they didn’t care. I chastised them for wanting to harm anyone possible as long as Trump is harmed.
Heh.
Perfect!
If she does, it will be the biggest mistake of her career.
Trump is playing her. He wants her to rattle the hornet’s nest. His loan agreements most likely have covenants that protect him.
Licensing agreements with conditions on the use of Trump’s name, with huge penalties. Restrictions on transfer that take a court order unless Trump approves. .... There are many possibilities.
People who have co-ownership with Trump on NY properties can fight the Big Sista takeover attempt and maybe win in court, but it costs time and money, and may want to make a deal. It shouldn’t be this way, but it’s NY. This may be part of Letitia’a plan.
Yeah, well that was the first character that came to mind when I first saw him on tv, and even more so as pictures over the net came about. I have a somewhat strange perspective on things or so I’m told.
And a lot of leases in the property. Retail and apartments.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.