Then why not seize the property now? That is what I don't understand.
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Trump ordered to pay nearly 355 million in NY fraud case.
- Thread starter fantome profane
- Start date
How much do you seize?
I assume the process would be something like what they use for tax arrears: sell it off at auction, then deduct the sale price from the amount owed, then repeat the process until the amount owed is zero.
This could end up with the sale price being way less than the appraised value of the property... which is Trump's problem if he fails his appeal, but makes it difficult to decide on an amount to seize before the appeal.
Subduction Zone
Veteran Member
I do not think that you understood him. He was pointing out that lowering the bond amount, Trump still could be on the hook for the whole judgement and interest will have accrued on that, will enable the appeal to get back on track. Trump has agreed to lowering the bond. That does not affect the amount that he would owe.Think you might have it wrong
Trump's $454M judgment bond slashed by more than half in appeals court ruling
Former President Trump no longer has to pay a $454 million bond after an appeals court slashed it down to a $175 million payment to be made within 10 days.www.foxnews.com
A New York Appeals Court, hours before the deadline to post the $454 million, lowered that bond considerably. The court ordered that Trump post $175 million within 10 days.
Trump said he will "abide" by the appeals decision and post the $175 million bond.
If Trump does post the $175 million by the new deadline, it would effectively block James from attempts to seize Trump's assets as he continues to appeal the judgment by New York Judge Arthur Engoron.
Subduction Zone
Veteran Member
Because there is a possibility that Trump could win his appeal and taking the property would do irreparable damage to his wealth. The people that bought it are not just going to hand it back over if Trump wins.
So they are doing this as a favour to Trump.
I don't think they often give such consideration to others.
Subduction Zone
Veteran Member
Though since he is going to appeal at any rate it will save him money even if he loses.
If he got the bond and lost he would still be on the hook for the full amount but to the bonding company. He would have to pay them that amount plus interest on the bond. The money that he paid for the 455 million dollar bond would be gone. That was the interest for that loan. The bond company would have paid off his debt and they would be coming after Trump. A BIG company with competent lawyers that do get paid. Trump would lose everything if he tried to stiff them.
Okay to cut it short, he loses the bond fee no matter what, but now it is a much smaller bond feed. Though companies might still be leery about lending him the money since if he loses the state will be first in line.
Subduction Zone
Veteran Member
I do not like it either. But it will hopefully put an end to any attempted delays.
What delays are you talking about? There is no reason to delay the appeal in any case. The appeal should go forward on the same scheduled regardless of what happened regarding the bond.
Pogo
Well-Known Member
Yes the bond has been lowered and Letitia James and NYS don't have to spend time and money at this point and the appeal can now happen without further antics by DJT. This will only be the first appeal of Enogoron's ruling.Think you might have it wrong
Trump's $454M judgment bond slashed by more than half in appeals court ruling
Former President Trump no longer has to pay a $454 million bond after an appeals court slashed it down to a $175 million payment to be made within 10 days.
A New York Appeals Court, hours before the deadline to post the $454 million, lowered that bond considerably. The court ordered that Trump post $175 million within 10 days.
Trump said he will "abide" by the appeals decision and post the $175 million bond.
If Trump does post the $175 million by the new deadline, it would effectively block James from attempts to seize Trump's assets as he continues to appeal the judgment by New York Judge Arthur Engoron.
James saying she would seize his properties was a significant threat, but I doubt she really wanted to.
Better to have him in court being denied appeals during his campaign on simple grounds than going through court battles over property seizure with Donald being able to say to his critters that they are persecuting him. This is not a win for DJT, it is an old bone to distract the MAGAts.
Subduction Zone
Veteran Member
The one thing that Trump is good at when it comes to lawsuits is in getting delays. I agree that there is no reason to do so, but because he was President the system does give him privileges that he does not merit. I am willing to let him save a little money for now. I can guarantee you that what he really wanted was a long delay while it was argued. Instead he has ten more days to get a bond or there is no appeal. He should be able to swing this without getting a bonding company.
Pogo
Well-Known Member
Because it is a complicated process that allows Trump to make hay about it, and the seizure being not revocable since all sales would be final leaves the government appearing mean and all the more likely that some judge will overdo being fair like Aileen Cannon . The appeals court that lowered the bond (not Engeron) has made the first speech in this epic.
Pogo
Well-Known Member
And he has already agreed to that so the bond is no longer a Trump talking point.
Thumb screws today, we will save the rack for later.
Yes, Trump does have a reputation for getting delays. However I have not heard anything about the appeal in this case being delayed. Have you?
Subduction Zone
Veteran Member
No, but I have seen him get far too many delays already in various cases. I am so glad that the New York Stormy Daniels case is on track. That is one case that he wants delayed if at all possible. The testimony alone will make him look very very bad. And he has attempted to get rid of various witnesses and to date all of those demands have been denied.
Pogo
Well-Known Member
As the courts start scoring points, the hold the ball and delay stops being a useful tactic and Trumps lack of offensive skill will get the fans energized.
Ok offensive skill doesn't work in this case, but you know what I mean.
It remains unclear how he can come up with this amount. He couldn’t pay the $99 million himself.Think you might have it wrong
Trump's $454M judgment bond slashed by more than half in appeals court ruling
Former President Trump no longer has to pay a $454 million bond after an appeals court slashed it down to a $175 million payment to be made within 10 days.
A New York Appeals Court, hours before the deadline to post the $454 million, lowered that bond considerably. The court ordered that Trump post $175 million within 10 days.
Trump said he will "abide" by the appeals decision and post the $175 million bond.
If Trump does post the $175 million by the new deadline, it would effectively block James from attempts to seize Trump's assets as he continues to appeal the judgment by New York Judge Arthur Engoron.
His most expensive properties aren’t owned outright or even him alone. If it comes to seizing properties it will take a long time to work through contracts, banks, and investors. It’s ugly. They need to find buyers too. The commercial buildings are not desirable.
Twilight Hue
Twilight, not bright nor dark, good nor bad.
Lawfare is quite a political weapon.
Callisto
Hellenismos, BTW
And yet he claims on Truth Social that he has $500M in cash. So he's lying to someone, he's either lying to the court that he doesn't have that much cash or he's lying to his delusional followers that he does.
It would only be lawfare if the charges were trumped up. Grand juries thought that he should be indicted, and courtroom juries will convict him. The public has seen enough evidence already to conclude guilt. This is no different than when Gotti went on trial. There was never any doubt that he was guilty, just whether the prosecutors could get a guilty verdict. The same is true for Manson and OJ Simpson.
It's also not election interference. Trump is free to run, which is why he is running. Nobody is preventing anybody who wants to vote for him from doing so. He is free to run ads. He is free to campaign personally in his free time. He will remain free to run even if he goes to prison before election day, at which time almost all of his time will be free time except for maybe a little time doing his mopping detail or working the prison kitchen.
So there is no election interference. Besides, his participation is not required for there to be a free and fair election.
Are you aware that his handlers have already begun sequestering him from the media, and that he presently has zero campaign events scheduled? Trump, the man who has victimized the country and just about everybody who has trusted him is just playing the victim card. Don't weep for him.