Well if he took loans out on them.. that money must have gone somewhere. Trace it and seize that!
I would imagine there would be a lot of difficulty in assessing the value of the seized properties if multiple creditors claim a stake in the property if he cannot pay them. The State would need to know not only the market value of the property but the market value of the portion the State could actually seize.
The value of the seized property would be what it gets at auction, no?I would imagine there would be a lot of difficulty in assessing the value of the seized properties if multiple creditors claim a stake in the property if he cannot pay them. The State would need to know not only the market value of the property but the market value of the portion the State could actually seize.
The value of the seized property would be what it gets at auction, no?
The value of the seized property would be what it gets at auction, no?
Whoa appeals court ruling. Reduced amount bond (not the total judgement) to $175 million and given 10 more days to pay.
How do you plan on getting rid of the smell?Do you guys want to pool money together to buy a waterfront property in Florida? The property I am considering is a place called Mar A Lago. The real estate brokers say the seller is distressed and in desperate need of cash. I think we should offer $3 million.
Yes. I imagine his lawyers will argue to the tooth and nail about properties being worth tons of money in order to limit the amount of property seized. I would also imagine the properties are already crazy leveraged and might have multiple debtors that would need to be paid before the state got anything. That could really lower the fair market value of the properties. A big red tape mess that I could see locked up in court for months.The value of the seized property would be what it gets at auction, no?
Yeah, 'Joke's on them, none of his properties are worth anything!' isn't the hot take they think it is.I’ve seen a bunch of articles in the last few days about ‘it’s going to be hard for New York to seize Trump’s properties’ and I feel like the author is either a moron or it’s deliberate clickbait.
The basic premise is that the properties are already highly leveraged and other creditors are ahead of NYS in line to be paid if they are sold so the state might not see that much money from an individual sale.
Do people not realize that’s not a state problem, but Trump’s problem? All that means is they have to seize even more of his properties. lol.
Haha, I'll remember that one next time I've got bills to pay too.But she can’t just take all his cash either. He still needs enough for daily operating expenses
The only caveat is that an insurer might be willing to play ball now to post bond for Trump. Though even 175mil is more than most insurers would like to sign up for, according to one of the articles I read.Sigh - ridiculous special treatment there. That being said, not at all sure if he has the money to come up with this either.
The amount is certainly a problem, but according to Trump's lawyers, that wasn't the real issue. Normally I DGAF what they claim, but most articles I've read state that bonding companies/insurers don't want RE as collateral. And they certainly don't want a large basket of mortgaged* Trump properties as collateral. They all want cash and cash equivalents as collateral, which is what he posted for the appeal bond in the EJ Carroll case. Obvious reason being they don't want to deal with the headache of asset recovery if he can't or won't pay.The only caveat is that an insurer might be willing to play ball now to post bond for Trump. Though even 175mil is more than most insurers would like to sign up for, according to one of the articles I read.
We should ask the resident conservatives if they approve of THESE handouts...when they oppose student loan forgiveness for exampleSigh - ridiculous special treatment there. That being said, not at all sure if he has the money to come up with this either.
Your normal Trump trying to intimidate his own lawyers clown show.Meanwhile it sounds like the Trump bid to delay the Manhattan criminal trial for a long period of time isn’t going great.
We should ask the resident conservatives if they approve of THESE handouts...when they oppose student loan forgiveness for example
Sigh - ridiculous special treatment there. That being said, not at all sure if he has the money to come up with this either.
There is a huge difference between using Taxpayers money to pay for student debt and the reduction of an arbitrary bond amount for a trial appeal. As the original fine still applies if he loses the appeal.
I think this 454 million bond is excessive considering nobody was damaged and the banks were fine with their dealings with Trump.
Bernie Madoff's bail was only 10 million after his 64 billion dollar ponzie scheme fraud.
Bankman-Fried was released on a $250 million bond after stealing 8.6 billion dollars.
I'm all for justice, but this just seems like political retribution and revenge.
I don't think the public interest is served by saying its ok to commit a massive amount of fraud and essentially be let off the hook to go keep doing it which he obviously would. Madoff died in prison and SBF might well too. I'd be willing to accept a much lower judgement if Trump faced criminal penalties that would result in the same but he isn't.