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 ...
ONE report says TRUMP DOES NOT OWN TRUMP TOWER.
HE HAS A 200 YEAR LEASE ON IT.
A GROUP OF GERMANS OWN IT.
SHE CANNOT SEIZE ANY OF IT.
Should have been easy enough to have sorted that out months ago.
BUT-—WHEN YOU ARE BLACK & FEMALE & HAVE POWER——
YOU RUSH TO JUDGEMENT
Mr. Trump is suing them for defamation ... reported on this forum yesterday.
Bingo. Force their hand to reveal the farce they created.
Trump does not need to file a bond to appeal - the purpose of the bond is to stop the efforts to collect his assets to pay the judgment against him while the appeal is pending.
If he cannot pay the bond, then the appeal may still proceed but Ms. James must hurry to find a new boyfriend that can handle the Sheriff’s sale on the leases for Trump Tower.
They will first go after liquid assets, which will be less than needed, after which they will pursue personal property like his Jet if it is located in the state, and thereafter real estate holdings.
If I am not mistaken, Trump does not hold fee title to Trump Tower, but has a very long term lease (many decades) with a group of investors that own the land.
Yep, probably what ABC wanted, keep the story in the news prior to the election, it's their little contribution to Biden's campaign.
She can seize the lease payments, if any.
If she seizes it and mismanages it while under her care and custody Trump will be able to sue her when he wins his appeal.
If it’s a charity then he can’t use the proceeds for himself. He’s already gotten in trouble for that.
ABC == Disney.
Mr. Trump and Gov. DeSantis are now both at “war” with Disney, from different angles.
The irony amuses me.
Letitia is about to find out that managing real estate isn't as simple as it appears. She'll probably need a loan, and will want to price the asset at the highest level she can...wait, what?
That creates a conundrum.
If they seize Trump Tower and then auction it off, and it brings in MORE than what James and Goron-the-Moron said it was worth to begin with, then Trump appeals and the case is thrown out.
But the Trump Tower is sold.
Then NEW YORK CITY is on the hook for repaying the REAL value of the building to Trump PLUS INTEREST.
They are like children playing with fire................
“This is awful”
Maybe it’s a strategy. Lets, for the sake of make believe, say that later on a court finds the following. The State of NY used a bias prosecutor, ignored real evidence, and used a Bias judge, to politically attack someone. The imposed fines that were in clear violation of the 8th Amendment, for political purposes. Then those individuals, and the State of NY, then become responsible for DAMAGES. Now, if they take billions in real estate, destroy someone, and hurt them politically, ignoring the Constitution, and interfering in a Federal Election, as well as damaging a multi-state business (international) it becomes a Federal, NOT STATE jurisdictional problem.
NY could end up with damages well into the BILLIONS at a time when they may well be financially unable to pay that bill, without raiding the pension plan of NY State employees........
They’ll jam it up with illegals
Thanks for the details.
Well stated. They at least had a code of honor amongst themselves and normally took care of the neighbors they lived in. Sure they asked to be paid for protection but that in comparison is a deal vs how our tax dollars are squandered
Wait until that disgusting pig AG finds out what it takes to run any of those properties. Payroll, maintenance costs, interactions with tenants. If she screws anything up Trump will own NYC.
Our greatest enemies and threats are much closer to home.
If Trump holds an interest as a long term lessee with a bunch of German owner/investors, it would be very interesting to see the terms of the ground lease and whether there are conditions which allow for termination of the lease.
If the conditions are met, then the lease can be terminated, and what in fact would the state receive in an execution to collect on the judgment? A terminated lease interest worth nothing?
Then the owners revert to the management of the property and may at a future time re-lease the property to anyone they wish, including Trump.
I would pay a dollar to see that lease, and the English Translation of it if it is in German.
Let her seize it - now the “refugees” will have a place to call home.
NY Attorney General Letitia James ran on charging Trump for any crimes she could find. This is what the people of New York voted for. Hope businesses flee the state.
I wonder though..... Letitia seizes the property. Runs it in to the ground. The whole lawsuit is thrown out on appeal. Trump gets the money from New Yawk and can buy the property back for pennies on the dollar.
A fun fantasy at least.
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