Posted on 03/20/2024 6:43:47 AM PDT by ChicagoConservative27
As Donald Trump faces a Monday deadline to post a $454 million bond in the civil fraud case against him in New York, insiders said he may be weighing a little-discussed option: Do nothing.
The ex-president reportedly has been struggling to raise the cash for the bond — either from banks or wealthy friends — with his lawyers claiming on Monday that it was a “practical impossibility.”
While some reports have raised speculation that Trump may “go nuclear” with a Chapter 11 filing to protect his prize real estate assets across Manhattan, experts said bankruptcy would create unwelcome complications as the 2024 election season comes to a head.
“He’s been there and done that,” one insider close to Trump said, dismissing the prospect of a Chapter 11 filing.
(Excerpt) Read more at nypost.com ...
““Judge rules Alex Jones can’t use bankruptcy””
Petty tyrants gonna petty tyrant. I long for the day when these cretins get their comeuppance and just reward.
“ This might actually be a brilliant move on Trump’s part. If the State of New York seizes Trump’s assets in New York, they will be required to document a fixed value of them to determine how much they are worth compared to the fine he owes.”
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If they undervalue those assets, trying to be consistent with their allegations, then everyone owning a piece of those properties can file for a partial refund of property taxes. More damaging to NYC (and, thus, NYS), going forward the property taxes on not just those buildings, but hundreds of others, will be lower, perhaps significantly so. It will destroy NYC’s budget, and cause an exodus of RE business from NY.
As the old Chinese saying goes, “Be careful what you wish for, you may get it.”
Like Fani Willis in Fulton County Georgia, AG James is an affirmative action jackass who has no idea how to perform her job.
Best to have Trump divest all holding in New York and Washington DC. Let the Left have it all. These will be lost in the coming war in any case. Lets see how New York handles complete failure when the market crashes and a new world order Marxist State rules with an iron hand.
“These assholes never ever look at the big picture.”
Sure they do. Leftists always plan on the “long term” basis.
But... when you are allowed to get away with other crimes... like conspiracy to overthrow a duly elected president, election tampering, destroying subpoenaed evidence, ignoring subpoenas, high treason and even stealing elections... it ‘somehow’ serves to embolden said criminals... to the point that they commit even more high crimes and acts of tyranny. Which is what we are witnessing now.
“All that is necessary for the triumph of evil is that good men do nothing.” (Edmund Burke)
Red Badger wrote:
“
The question now is, will they now value the properties on what they said were overvalued prices during the court case or will they have to use the actual real estate values the market and banks decide.
If they use the actual real estate values, that essentially negates their case from the top down, because they will be higher than what they prosecuted Trump for lying about.................
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And if they undervalue it?
With the ongoing and growning crash of commercial property, the building is likely worth a fraction of what it was just a year or two ago. Which price and appraisal will she use? Does Trump get to pick what she gets her hands on?
They can’t.
They will auction it off and the market will decide.
They will seize properties according to their ‘undervalued assessments’, IOW, seize more than is necessary to cover the fine, but the when it’s put up for sale it will be fairly obvious what they have done is paint themselves into a corner......................
TRUMP has a right to REMOVE every piece of furniture & every Appliance.
The BIGGER question is: WHAT about those condo owners in tht building???
They are not going to allow any “RIFF RAFF....
I don’t think there is much of a market for a property that was confiscated by a gubmint that has NO moral authority and is incompetent. Some think Trump is probably sentimentally attached to what he built and has has certainly taken great pride in.
I think Trump is a warrior. In war you sometime give up a little territory knowing you can use it as a trap. Obviously the best strategy for the Communists is for Trump to be forced to sell off the property at fire sale prices and break him. I’m not sure who lives and operates businesses out of Trump Tower. But they might be some powerful people who might not like the ensuing chaos of a gubmint confiscation.
I’m sure there is foreign money that might pay market value but that would be problematic in the big picture if say Soros or the Chinese purchased the property.
The Commies want Trump to hold a fire sale which is EXACTLY why Trump will NOT sell.
This is in uncharted territory.
And Trump has the brains and the balls.
The gubmint has NEITHER.
How many Rich High Profile democrats will she run into now ? LOL
One major hit on New York that’s coming and I have not heard mentioned is ad valorem taxes.
These huge buildings worth hundreds of millions each pay lots and lots of taxes when times are good. But, as we’ve seen in other blue cities, when they become a recurring, major loss for private owners, they (the owners) just let them be foreclosed on by the government and write off the loss.
When the government owns them, there are no taxes collected and maintenance is HUGE.
Trump could then, if he chose, buy them back for pennies on the dollar.
This whole thing is just going to be a Disaster for the NYS AG’s office...
I don’t see any way, that Trump isn’t going to win on 8th Amendment grounds, to say the least, on a federal appeal.
She should call Paul Giamatti...
Now you understand the "overstated value" BS used in the kangaroo court smears.
me too, BUT it seems that evil just keeps winning and winning and winning- conservatives in congress appear to always be powerless to stop the tyrants- for whatever reason though God is allowing it- thankfully though there is still a substantial remnant restrainer population that prevents all out evil from running unopposed
She’ll start moving in every illegal in the city and they’ll trash it. I feel for the wealthy tenants having to live with this crap. I say he should declare Chapter 11. Poor guy.
Those "legal experts" sound like they're as retarded as Leticia Mugabe James.
How does the State of New York pursue a civil lawsuit against Donald Trump for fraudulently overstating the value of his net worth if they don't already know these details of his financial positions?
Therefore they hypothesized they may try to call Trump and his accountants in, and attempt to force them to testify under oath as to which properties have the most equity, and then use that as justification for why those specific properties are being targeted for seizure.
Brilliant. See my previous point. That's like questioning the suspect in a murder case after he's already been convicted of murder and sentenced to life in prison. Did any of these morons even go to law school? No -- strike that. Did any of these morons even get through middle school?
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Doubtful. Existing tenants/sub-tenants, unless somewhere stipulated in a lease agreement, are not going to be summarily kicked out.
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