Donald Trump appeals $454 million judgment in New York civil fraud case

[Laura PourMeADrink]

https://apnews.com/article/trump-new-york-civil-fraud-appeal-letitia-james-2f8cc521e00e4a34a1342b961c1416ce

The former president’s lawyers filed notices of appeal Monday asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s Feb. 16 verdict in Attorney General Letitia James’ lawsuit and reverse staggering penalties that threaten to wipe out Trump’s cash reserves.

Trump’s lawyers wrote in court papers that they’re asking the appeals court to decide whether Engoron “committed errors of law and/or fact” and whether he abused his discretion or “acted in excess” of his jurisdiction.

Snip
The Republican presidential front-runner has until March 25 to secure what’s known as a stay, a legal mechanism pausing collection while he appeals. Trump would receive an automatic stay if he puts up money, assets or an appeal bond covering what he owes. Trump’s lawyers could also ask the appeals court to grant a stay without obtaining a bond or with a bond for a lower amount.

[Caliman73]

1. I don't think it will go anywhere.

Just recently they tried the same thing with the E Jean Carroll case and failed.

Engoron was pretty measured and clear with his rulings.

This is standard for Trump. Appeal after Appeal to delay the situation. That has always been his tactic but it isn't working now that he is out of his depth and not dealing with smaller contractors that he can bully.

[Caliman73]

2. Self delete

DU kicked my first reply back with errors. This was a duplicate.

[Laura PourMeADrink]

6. Ew sorry, looked for dupes in GD only. Did pull up

CNBC post but it doesn't mention asking for a reduced bond or no bond. News to me.

[getagrip_already]

3. This is a notice ro appeal, not the actual appeal....

Just a step in the process.

They can file the appeal any time, with or without a bond, but if they don't post the requisit bond within 30 days of the judgement the state will be free to start to collect the judgement in court.

They will start in nys, then move to other jurisdictions as the money runs out.

His properties are so heavily leveraged they may not bring in a lot of profit after tax.

[Laura PourMeADrink]

4. Please expound on " they will start in NYS..." not sure i follow. For bond $$?

[WarGamer]

5. getagrip is talking about seizin gproperty... and we're far from that happening.

He'd start selling property before allowing that.

[getagrip_already]

7. Correct, except he isnt in control of the compsny

And can't sell anything. Part of the decision and order removed him from management for a period of 3 years and appointed a manager.

The court appointed manager is in charge, not tsf or his spawn.

They can't sell or move assets.

[WarGamer]

8. Why would the Court deny a reques to sell property to satisfy a lien?

Seriously...

Greg Germain, a law professor at Syracuse University in New York, told Newsweek that this compliance director "has the ultimate decision-making authority on operating or selling property. Trump could ask for sale, but he wouldn't control the decision."

Germain believes that the compliance director would agree to a sale if Trump requested.

The money Trump will have to pay from recent lawsuits exceeds his liquid assets by $112.3 million, according to Newsweek calculations, so the sale of property may be inevitable. Forbes estimated as of September Trump had some $426 million in cash and liquid assets. Trump has been ordered to pay $5 million and $83.3 million from the two E. Jean Carroll lawsuits, for a combined value of $88.3 million.

https://www.newsweek.com/donald-trump-new-york-fraud-trial-judge-arthur-engoron-barbara-jones-property-sales-letitia-james-1872046

[getagrip_already]

9. Yes, of course to pay the judgement....

The manager would certainly approve that. But they would keep control of the funds and make sure they went to the court and not to tsf personal fund somewhere or to pay his legal fees.

You made it sound like he would sell off his assets so James couldn't get them. The manager wouldn't allow that.

[WarGamer]

10. I'm obviously talking about paying the judgement or placing the bond for appeal.

When I say he'd SELL before allowing the Courts to seize... let me tell you why.

If Trump sells something, he can get market value.

If it's seized and the Court controls the sale they can accept a lowball offer.

THUS... Trump would sell the property FIRST and hope that some Saudi or dude from Dubai will overpay... which they frequently do.

[getagrip_already]

11. Sounds reasonable

Though he will still need to pay taxes on any profit up front, and the fines themselves are not tax deductible. And the state will look very closely at what creditors get paid and how much.

So he will be in pain no matter what..

[WarGamer]

12. Oh yeah... mucho pain.

Frankly... I think he's an idiot for NOT selling the properties during the trial.

He could use the excuse "Fuck New York State"... to liquidate.

He would have had the money ready to post the bond for appeal.