*Not really. But he does say he can't post his $454 million bond unless he sells off some property:
Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million judgment he faces in his civil fraud case, saying that he might need to sell some of his properties unless he gets relief.
....In seeking relief, Mr. Trump’s lawyers disclosed that they would be unable to secure a bond for the full amount, raising the prospect that he might soon default on the judgment if the appeals court denies his request. Without a stay, Mr. Trump’s lawyers warned, he likely would have to sell some of his New York properties “under exigent circumstances,” in what would be a punishing blow to the former president.
"Exigent circumstances" means a forced fire sale, but I'm not sure why. The overall Manhattan commercial real estate market has been pretty steady lately and the office market has rebounded since last year. So Donald should be OK.
"The overall Manhattan commercial real estate market has been pretty steady lately and the office market has rebounded since last year. "
I wonder if Trump is going to thank Bidenomics for that.
Dude, Trump doesn't have it in him to credit anyone for anything. Being perfect and all.
The other related question is why he can't get a mortgage on it? Maybe because he's a bad risk?
Probably because all of his properties are already encumbered.
We have a winner!
Well yeah.
But also Kevin is wrong. Even if he owns something currently unencumbered to sell, selling huge CRE properties in not like selling grandma's house.
Being forced to sell a property like 555 California (I don't think he can, but fr'instance) in a huge hurry means your pool of buyers is tiny and you have no time to play games. He'll totally get taken.
Of course he can sell options against his potential presidency. His employers in the LIV thing are already buying, so he'd have to sweeten the pot quite a bit to ask them. Vlad is already upping his demands, asking for a $.5B sweetener at this point probably won't work there. That's also too rich for his good buddy Kim Jong Un.
Musk is pretty over-extended himself these days, but I could see him getting off on building a consortium to buy him off.
Other options?
Gee, who could have seen this coming?
Suck it up, Donald. You had plenty of time to start finding suckers to buy some of your crappy properties before Engoron dropped the hammer. It's not like you're going to be held in debtors' prison (if only).
Kudos for using "Donald". He hates that diminutive. It should be used more often.
That and Donnie Dorko.
How much money does the RNC have????
(oh, not enough....bummer...)
There is the GoFundMe. Which supposedly violates GoFundMe's terms of service but (surprise, surpirse) they're looking the other way.
But seems The Donald's fans only love him to the tune of $1,2 million.
https://www.gofundme.com/f/stand-with-trump-raise-the-settlement
I read yesterday that it had $8million in the bank. Total.
Donnie Dorko (heh!) has been pulling out tens of millions in legal expenses. Nationwide, campaigns are getting underway and need funding. But DIL Lara, who apparently now holds the RNC's purse strings, says the whole purpose of the RNC is to fund her father in law.
Cue the story of the frog and the scorpion.
That he thinks he can negotiate a deal with the court is quite funny.
Well, it will be funny unless he succeeds in doing so.
The poor guy says he doesn’t have enough, he doesn’t have enough. We know he would never lie about something like that, amirite?
Everything he and his attorneys say is a lie, including "and" and "the."
To paraphrase an old lawyer joke, Question: "How can you tell when Trump is telling a lie?" Answer: "When his lips are moving."
These inner-city lawbreaking types just need to learn! If ya can't do the time, don't do the crime!
From what I've read, sale of some property seems likely because (1) he doesn't have that much in liquid assets and (2) his properties, while worth far more than enough, are encumbered in various ways -- mortgages, liens, leveraging, yada yada -- such that a bonding company might not be willing to accept them as collateral.
Of course there's probably still some way for the Putin-MBS Offshore Bonding Services Corporation of Cyprus to pony up the necessary resources *IF* they think it's worth the money, which I gotta say by now may be looking questionable to them.
Remember when Trump said he didn't need any credit because his business was just so flush with cash?
https://slate.com/business/2018/05/were-donald-trumps-cash-real-estate-purchases-related-to-money-laundering.html
"The Washington Post reported Sunday that the Trump Organization had spent more than $400 million in cash acquiring properties, often without taking on any debt at all, beginning in 2006. The president’s son Eric Trump told the Post that the simple explanation was that Trump properties threw off so much cash, there was no need to borrow.
Even if true, experts agree: That’s weird. Real estate buyers usually like to spend as little of their own cash as possible. Big purchases often come with massive loans—like the $1.2 billion mortgage Kushner Cos. took out on its flagship 666 5th Ave. skyscraper when the president’s son-in-law purchased the building in 2007. This was especially true of Donald Trump, a self-styled “King of Debt” who managed to escape disaster in Atlantic City, New Jersey, in part because so little of his own money was invested in the casinos he ran there. And never has it been more true than during the past decade, a period during which historically low interest rates made borrowing money cheaper than ever."
Let's see who will front him..... Time will tell. Just another delay tactic I believe.
So he has to sell. Big deal! He's got lots and lots of properties that he CAN sell. If reports are correct, they're all money pits, anyway. By now, even the buyers know this, so he'll get less than he might have, had he been an actual businessman, instead of a lying con man grifter.
Too bad. I hope the court has no mercy. Meanwhile, the interest on his judgements is mounting up at over $120,000 per day, so he'd better get to it.
If he can't make bond, then he can't appeal. If he can't pay his judgements...can he be imprisoned? Please?
Sadly, this is a civil case, so no, all that will happen is the state will seize bank accounts, real property, etc. But no jail ... for this one.
Didn't his lawyers say in the notice to appeal that Trump is so rich that he should be allowed to appeal without a bond?
They've gone from trying to sue bluster to trying to use pity as a way to weasel out of his obligations.
I think that was in the Carroll case -- (1) puh-LEEZ for such a piddling amount the Wealthiest Man Of Them All Many People Are Saying Big Strong Men With Tears In Their Eyes Believe Me shouldn't have to post a silly bond, but also (2) waaaah too big a judgment unFAAAAIRRRR!
I believe it's the "throw a bunch of stuff at the wall and see if anything sticks" approach to lawyering.
Remember, E Jean Carroll's 83.3 million enters collection on March 7th unless something happens. Trump's move has been to say, "I'm so filthy rich that I don't need to post a bond since I can repay it without issue." Now this will undercut his position and make for a very interesting court hearing.
I know!
He could sell his Trump tie company to Jared for a cool half billion.
The kid got all that dough for something.
cld
I guess it's a good thing they suspended Judge Engorons can't run a business in New York for 3 years schtick.
Although he COULD sell his Scotland Gold course. It's not making money anyway
Finally! Time for a haircut - let's see that scalp!
"'Exigent circumstances' means a forced fire sale, but I'm not sure why."
I think the need to sell quickly is almost always bad - normally, big real estate transactions like this would take months, but if your potential buyer knows you have a two-week timeline, they can offer you less (perhaps much less) than the property is worth in order to pay on time in cash.
"The overall Manhattan commercial real estate market has been pretty steady lately and the office market has rebounded since last year."
...citation? The site below says the market is down 20%+ since 2019Q3, and that's NOT adjusted for inflation:
https://www.propertyshark.com/mason/market-trends/commercial/nyc/manhattan
"So Donald should be OK."
Let's hope not! 🙂
Pretty weird that the lede was not "Trump Says He Cannot Pay the Full Bond, Asks for Huge Discount"
maybe he could make a few bucks starring in a porn film with stormie, but only if he's a bottom
not surprising but the fox 'news' site makes no mention of this story at all
too busy pushing their EXCLUSIVE TO FOX NEWS coverage of biden's liver spots i guess
Eewww!
So, he lied last year when he said he had over $400M in liquid assets, did he?
Chalk up another lie he gave under oath.
I predict he'll declare bankruptcy before summer.
Just sell 1M of those gold shoes, amirite?
RNC, you listening? Git your pocketbook ready, 'cause your guy is gonna need you to make some big purchases.
trump's request was rejected. now, can he file an appeal with SCOTUS on some constitutional grounds?
https://apnews.com/article/trump-james-appeal-bond-fraud-new-york-3093352e94274f9daba3d84f0c43467e
Yet a central tenet of his defense was his name on its own conferred significant additional value to his properties…
yeah, it's sad that after a few billion in liar loans no one trusts you anymore
It should have been. But I only recall it being mentioned in an off hand way. It seemed like they were afraid to go there for fear of that argument being rebutted.
Though adding his name to his apartment didn't make it grow 3 times bigger--it's not the Grinch's heart.
WASHINGTON (AP) — The Supreme Court on Wednesday agreed to decide whether former President Donald Trump can be prosecuted on charges he interfered with the 2020 election and set a course for a quick resolution.
The justices’ order maintains a hold on preparations for a trial focused on Trump’s efforts to overturn his election loss. At the same time, they said they would hear arguments in late April, with a decision likely no later than the end of June.
https://www.reuters.com/legal/us-supreme-court-decide-trump-criminal-immunity-claim-2020-election-case-2024-02-28/
Donald the dead beat has stiffed numerous small business and tradesmen over the years. When they sued for what they were owed he counter sued and tied them up in legal hell. As the Bible says, those who live by the sword shall die by the sword.
Why?
Because every buyer would know they have him over a barrel and will negotiate a low price. He needs them more than they need him.
Every buyer would also know he has the potential to be President again and the ability to be very generous to his “friends” and to exact revenge on those who be believes did him wrong.
The biggest favor Donnie Dead Beat can bestow on someone who did him a favor is to forget he owes them a favor. Donnie doesn't like it when you remind him he owes you one, amirite?
By “under exigent circumstances”, he means he'd only be able to sell the properties for what they're worth, without being able to get that 2-3-800% premium they deserve to attract by being associated with your favorite president (him!).
Also, those Saudi bastards really know how to screw a man if they know he's desperate.
What happens if he can't come up with the required money. Can the court seize his assets?
The Judge signed the judgment. It’s up to the Judgment Creditor (State of NY) to figure out how to collect. The State will start seizing assets on March 25 (same day criminal trial starts). EJ Carrol will start seizing assets in about 11 days unless Trump posts bond in that case.
Without a stay, Mr. Trump’s lawyers warned, he likely would have to sell some of his New York properties “under exigent circumstances,”
A good way to avoid having to sell things under exigent circumstances is to obey the laws governing bank loans and rape.
And if you are tempted to give this sociopath/psychopath some leeway, think of what he would do to you in similar circumstances.