We'll know by the end of the day what action New York Attorney General Letitia James has taken on the Malignant Loser's accounts and/ or properties to satisfy the $464 million judgement against him for massive business fraud. No one expects law enforcement to show up and padlock his buildings, but his other assets are vulnerable, especially bank accounts and personal property. The Washington Post looked at five scenarios this morning (excerpts):
Nothing happens immediately
The appeals court generally issues rulings on Tuesdays and Thursdays, so there is very little chance it will act by Monday on Trump’s request to waive the bond requirement. [snip]
But there are reasons for her to wait. Legal experts say Trump has a chance of getting some type of relief from the appeals court. If James begins moving on his assets before the court rules, she may have to backtrack afterward. [snip]
Letitia James moves to enforce
James has said she intends to take Trump’s assets if he fails to pay. “If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” she told ABC News last month. In the interview, James mentioned Trump’s 40 Wall Street office building by name.
Experts say James would probably start with New York properties, partly because the LLCs that own two of them — 40 Wall Street and his Seven Springs estate in Westchester County — are defendants in the fraud case. James’s office already filed Engoron’s judgment with a court in Westchester County, a first step toward seizing the Seven Springs property, as CNN first reported. [snip]
Trump finds the money
The easiest way out of this predicament for Trump is to get a lifeline from the New York Supreme Court Appellate Division. Trump’s attorneys have asked that court to reduce, delay or waive the bond requirement. The court could say that Trump does not need to post a bond at all unless until his appeal is over and he loses, or the panel could allow him to post a smaller bond. [snip]
The appeals court steps in
The easiest way out of this predicament for Trump is to get a lifeline from the New York Supreme Court Appellate Division. Trump’s attorneys have asked that court to reduce, delay or waive the bond requirement. The court could say that Trump does not need to post a bond at all unless until his appeal is over and he loses, or the panel could allow him to post a smaller bond. [snip]
Trump files for bankruptcy
As The Post detailed recently, legal experts — and some people in Trump’s camp — recognize that filing for bankruptcy would probably push all these problems down the road by months or maybe years. Trump wouldn’t escape his debt to the court — and in fact interest would still continue to accrue — but the clock would stop ticking on his need to immediately put up a bond. New York would have to get in line with other creditors and ask a bankruptcy judge to get paid.
Filing for bankruptcy could come at a political cost for a candidate who has marketed himself as a savvy businessman."
AG James isn't fooling around, and she'll be strategic in whatever action she takes. Be assured that the Malignant Loser will try to milk whatever sympathy he can from his devoted cult and the gullible, both sides media. As for us and tens of millions more, finally bringing the Malignant Loser to justice by beginning to strip this monster of his things is a very good day.
UPDATE: This --
A New York appellate court has ruled that former President Donald Trump can post a lower bond to cover his $464 million civil fraud judgment.
The Appellate Division, First Department said Trump can post a bond "in the amount of $175 million" to cover the judgment.
Trump's attorneys had argued obtaining a bond for the full amount of $464 million was a "practical impossibility."
The ruling comes as Trump and his sons face a Monday deadline to pay or secure a bond, or risk New York Attorney General Letitia James beginning the process of seizing the former president's prized assets.
Trump, according to multiple sources close to former president, reacted to the ruling with a sigh of relief.
"We got what we wanted," one source told ABC News...
It's important to note that the $464 million judgement still stands. But, justice delayed ...
(photos: Bonnie Biess / Getty Images, Oliver Contreras / SIPA USA Bloomberg via Getty)
2 comments:
I will believe it when something actually happens.
You see. Something even more better is coming down the tube.
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