The issue of damage is an interesting one. James is counting on the current value of any property she wants to seize. Suppose that in the process of seizing a property its value drops precipitously. Then does she have to seize even MORE property to make up for the drop in value of properties she is seizing? Now where does THIS end?
James is going to have a rougher time than she thinks. On the other hand, I think she knows this, and so does the Judge. It's a bluff to try to make Trump come up with the cash, and THAT'S what they want. Hundreds of millions of dollars to squander in more leftist spending. Maybe Trump should keep taunting them. "Hey James and judge, I have 500 million in cash and you're not getting ANY of it."
New York State cannot prove that it is credit worthy, having the ability to promptly pay $467 million in cash.
My practicing law without a license opinion is NY can place a lien on any partnership property but ultimately could not seize the asset.
The lien would have to be paid before the property or shares of the partnership could be sold—but that would not be “seizure”.
later
Any move by Letisha Mugabe to encumber the property with a lien becomes a legitimate cause of action against her.
I need more coffee.
I agree with Turley on this. Trump has every piece of real estate in a separate corporation. We started doing this with high value properties back in the early 1980’s as it is easier to just sell the stock in the corporation, rather than the real estate.
On a $100 million property, the transfer taxes alone would be several million in most states.
As soon as you add minority interest in the corporate entity, it really creates confusion for the courts. I’ve encountered this many times over the years when negotiating IRS collection cases.
Thus, with minority shareholders, the government could only go after Trump’s interest and also could be required to abide by shareholder agreements and restrictive deed covenants. It can become very complicated.
In addition, equity might be diversified through encumbrances on the property through other loan guarantees. If Trump Tower is pledged as collateral on another property as part of a loan package. The loan holder could block the government from taking their collateral.
This calls to mind what the Japanese general Isoroku Yamamoto’s said “I fear all we have done is to awaken a sleeping giant”. The sleeping Giant is of course Pres. Trump and all of those “Maga” folks. The stupid James bitch is in way, way, over her head. And so is the Ichabod Crane Judge.
BTTT
Lots of talky talk about law stuff but the Nazi James seems to be the only one actually doing any law stuff. No one is going to stop her, we’re well past the point of reason and truth. This is how war is conducted in 2024.
Letitia needs to be flippin’ pancakes or burgers. She’s in way over her head.
As a real estate investor, myself, Trump should have called a few of his most trusted and most wealthy friends to file liens on the property. The shaved Bigfoot face would then be in subordinate position and forced to pay off those liens before taking action. She’d be put into a similar challenge that Trump is now in. As an aside, there are ways to establish corporate veils on holdings, but Trump likes to put his name on everything. He carries enormous pride and I don’t blame him.
I think the plan is to draw into question where Trump got the money and claim he is using political donations to pay his legal fine.
They want to hit him with campaign finance violations, claiming election funds are being used for private matter.
It wouldn’t be the first time either for such an attempt... the FEC tried to claim Trumps payment to Stormy Daniels was a campaign finance violation. It deadlocked with a 2-2 vote among the FEC panel.
Using debt is a poison pill for many takeovers. Glad to see Trumps stuff is very tangled. Way above James paygrade to unravel. They will need a bunch of M&A guys at top dollar. And then to devalue the property as well.
Overall my thought on this is simple:
She wants to HARM Trump anyway she can — she is absolutely blind to the trail of damage she will inflict upon herself.
Example:
James wants to seize the Westchester G & CC. OK, she takes it and it has to close for a time to restructure as there is corporation to pay staff...
“Ha ha! I got you TRUMP!” she cackles!
James feeling good now begins getting calls from prominent citizens — democrat citizens, democrat judges: “YOU closed down my country club!’ they say...
Then Trumps appeal will begin and James will look like a fool.
These properties are partnerships, they have leveraged debt.
I don’t think that matters to her, but it might matter to a court.
Letitia James’s about to receive a bitch slap of her life placing NY under long term debt.
Bkmk
She’s dug her hole and made her bed in it - now she gets to sleep there. She miscalculated what it was going to take to ‘get Trump’...now she has a high likelihood of being in a battle much longer than she thought, while her opponent becomes POTUS.
That’s not a position I’d like to be in.
James is a Didn’t Earn It (DEI) moron who has no idea what she is doing other than t to “get Trump.” She’s an intellectual lightweight who has never worked an honest day in any capacity in her life. As a Black Privilige female, she can do whatever her white masters instruct of her and white Leftists and their media will protect her and scream “racism” whenever a Token hitman like her gets criticized for being a corrupted public official.
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. 🤷♂️