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Tom of Temecula

(1,373 posts) Mon Mar 18, 2024, 11:43 PM Mar 18

If Trump If Doesn't Post Bond: 'Letitia James Seizes His Property, Puts Liens on All of His Assets, Bank Accounts'

Actual title: CNN Legal Analyst Paints Nightmare Scenario for Trump If He Doesn’t Post Bond: ‘Letitia James Seizes His Property, Puts Liens on All of His Assets, Bank Accounts…’

CNN legal analyst Ryan Goodman explained that if Donald Trump fails to make the $454 million bond that is required to appeal the massive fraud judgment against him, the former president will be in a world of pain.

Lawyers for the former president told a New York appeals court on Monday they have been unable to find an underwriter who is willing to take on the massive risk, calling it “not possible under the circumstances.” The attorneys said they contacted more than 30 bond underwriters.

During Monday’s OutFront on CNN, Erin Burnett aired a clip of New York Attorney General Letitia James, whose office prosecuted the civil case in which Trump was found liable for defrauding banks and insurers and last month was ordered to pay $454 million, including interest.“We are prepared to make sure that the judgment is paid to New Yorkers,” James said before referencing one of Trump’s buildings in Manhattan. “And yes, I look at 40 Wall Street each and every day.”

Burnett noted that Trump-owned 40 Wall Street is estimated to be worth around $270 million. Bloomberg News legal reporter Erik Larson told the host that the bond is due in a week and that James is allowed to seize Trump’s assets that are outside New York state. “If he does not post this by Monday, he can still appeal, of course,” Larson said. “It’s just that this verdict will be enforced immediately on Monday.”

https://www.mediaite.com/tv/cnn-legal-analyst-poses-nightmare-scenario-for-trump-if-he-doesnt-post-bond-letitia-james-seizes-his-property-puts-liens-on-all-of-his-assets-bank-accounts/

13 replies

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Highlight:

If Trump If Doesn't Post Bond: 'Letitia James Seizes His Property, Puts Liens on All of His Assets, Bank Accounts' (Original Post) Tom of Temecula Mar 18 OP

Does anyone know if Trump appeals and wins.... Kablooie Mar 18 #1

I could be wrong, but realistically I think nobody would actually purchase... Justice matters. Mar 19 #3

I think a receiver would be approinted IbogaProject Mar 19 #10

Kick dalton99a Mar 18 #2

What happens to the people and businesses who are currently renting from Trump et al? Are the leases forfeit? Does the Ford_Prefect Mar 19 #4

In light of the fact that limbicnuminousity Mar 19 #5

A lien basically affects nothing. If it is sold, the new owners assume the leases and maintenance. tinrobot Mar 19 #7

Awww PinkTiger Mar 19 #6

Correction: If Trump doesn't post bond, the next incredibly slow, deliberately protracted legal process begins... Silent3 Mar 19 #8

Trump can now seek Bonding from Orban and Putin Sessuch Mar 19 #11

You will never get the smell out?? All the bleach and air fresheners in the world... Evolve Dammit Mar 19 #9

Betting he will post bond. republianmushroom Mar 19 #12

In Reality Jacson6 Mar 19 #13

Kablooie

(18,658 posts)

1. Does anyone know if Trump appeals and wins....

Reply to Tom of Temecula (Original post)

Mon Mar 18, 2024, 11:47 PM

Mar 18

But a lot of his assets have been taken, does the state have to return them?

Justice matters.

(6,971 posts)

3. I could be wrong, but realistically I think nobody would actually purchase...

Reply to Kablooie (Reply #1)

Tue Mar 19, 2024, 12:54 PM

Mar 19

any one of his assets until all court actions will be over and done. It's just I think New York State will be the owner until again all court actions will be over and done.

I don't think criminal-defendant hitler2-wannabe will win any appeal (or maybe just a reduced amount his assets 'could' cover for once they're sold).

He's acted like an ass the whole process as we saw.

IbogaProject

(2,882 posts)

10. I think a receiver would be approinted

Reply to Kablooie (Reply #1)

Tue Mar 19, 2024, 02:00 PM

Mar 19

So basically a guardian for the asset who would run it and collect the money and pay expenses but keep any profit. I'm not sure exactly how the State gets paid but TSF and his family would loose control of a bunch of assets. The fun part will be if the State doesn't find an easy 450 million and gets to force him to list all assets and liabilities under risk of purgery, that will go right into the court record for us all to enjoy.

dalton99a

(81,850 posts)

2. Kick

Reply to Tom of Temecula (Original post)

Mon Mar 18, 2024, 11:53 PM

Mar 18

GOODMAN: Then Letitia James seizes his property, puts liens on all of his assets, bank accounts. And as Eric said, that is not restricted to New York. So, she probably at this point understands where he has different assets in Florida, Mar-a-Lago, and elsewhere.

BURNETT: And what does that mean? He can’t go in them or people can’t go– what does that mean?

GOODMAN: It does mean that he would not be able to– it would be fought out in some part in the courts. But for that period of time, it really becomes unusable. And how does he get any additional business going when these are under foreclosure or are being seized by the courts?

Ford_Prefect

(7,964 posts)

4. What happens to the people and businesses who are currently renting from Trump et al? Are the leases forfeit? Does the

Reply to Tom of Temecula (Original post)

Tue Mar 19, 2024, 01:01 PM

Mar 19

Last edited Tue Mar 19, 2024, 09:41 PM - Edit history (2)

lease continue but the rent goes to the new owners? How does that work? What about the luxury apartments in any of those sites? Who do the owners call about building maintenance? I'm sure there are answers but where is it written?

If there is a total eclipse of the sun while this is going on does that mean the water will go down the drain in the opposite direction above the 14th floor?

limbicnuminousity

(1,407 posts)

5. In light of the fact that

Reply to Ford_Prefect (Reply #4)

Tue Mar 19, 2024, 01:08 PM

Mar 19

they continued to rent from a known criminal does it matter? He can reimburse them in Trump bucks or NFTs for their loyalty to the brand.

tinrobot

(10,936 posts)

7. A lien basically affects nothing. If it is sold, the new owners assume the leases and maintenance.

Reply to Ford_Prefect (Reply #4)

Tue Mar 19, 2024, 01:36 PM

Mar 19

The lien basically says that, if/when the property is sold, the lien holder gets paid before the owner.

Until then, the property is run as normal, though the lien holder can do things to make sure the property is maintained/insured.

PinkTiger

(2,591 posts)

6. Awww

Reply to Tom of Temecula (Original post)

Tue Mar 19, 2024, 01:27 PM

Mar 19

I’m all out of F##KS to give.

Silent3

(15,499 posts)

8. Correction: If Trump doesn't post bond, the next incredibly slow, deliberately protracted legal process begins...

Reply to Tom of Temecula (Original post)

Tue Mar 19, 2024, 01:44 PM

Mar 19

…where for months, if not years, Leticia James attempts to put liens on Trump’s assets, with a bitter fight for each and every asset.

Sessuch

(114 posts)

11. Trump can now seek Bonding from Orban and Putin

Reply to Silent3 (Reply #8)

Tue Mar 19, 2024, 07:01 PM

Mar 19

Evolve Dammit

(16,910 posts)

9. You will never get the smell out?? All the bleach and air fresheners in the world...

Reply to Tom of Temecula (Original post)

Tue Mar 19, 2024, 01:59 PM

Mar 19

republianmushroom

(14,146 posts)

12. Betting he will post bond.

Reply to Tom of Temecula (Original post)

Tue Mar 19, 2024, 07:26 PM

Mar 19

Jacson6

(388 posts)

13. In Reality

Reply to Tom of Temecula (Original post)

Tue Mar 19, 2024, 07:36 PM

Mar 19

The other leins and mortgage would get paid off first and the NY government would get anything left over. I imagine that because he can't produce the cash for the bond that all of his buildings and real estate are mortgaged to the hilt. Just saying.

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