He doesn’t have it. And he has no legal means to get it. EJC is about to start forcing the sale of assets. NEW: On the eve of having to post a $91.63 million bond to stay execution of @ejeancarroll’s judgment, Trump asks Judge Kaplan for a 3-day temporary administrative stay while the court decides his bigger motion to stay execution pending the outcome of his post-trial motions.— Katie Phang (@KatiePhang) March 6, 2024
So he's NOT a "bee-yon-aire?" Imagine that! E. Jean Carroll Tower is gonna look great. Maybe she'll rent that bum a cardboard box for the alley. Oh wait. NYC doesn't have alleys.
I think the issue is that Trump's wealth is the Trump Org, which he uses as a personal slush fund to pay for his lifestyle. Trump doesn't own any of the property he stays at, Trump Org does and him living at the property is part of his executive pay package. That's also likely to make things more difficult for Carroll's lawyers to get her money. They will have to pierce the corporate shield to get access to the Trump Org's assets.
Who gets paid first? Because there isn’t going to be enough left after they liquidate all his properties and pay off his lenders to pay both EJC and the state of NY.
One of the lawyer teams I listen to seemed to suggest it is based on filing order. That said, these are two different cases we are talking about, and E Jean Carroll I had a due date sooner than the Trump Org Fraud case.
I didn’t say it would be impossible, just that it will be more difficult. They aren’t going to be able to stroll up to Trump Tower, slap a E Jean Carroll Tower banner on it and call it good. The lawsuit was against Trump the person, not the Trump Organization. Those are, technically, two different entities.. Or, at least, they should be. I'm assuming the Trump Org is a corporation, which legally separates the owner from the business. It's the same issue that the Sandy Hook families had with Alex Jones. He had insulated himself from his businesses in a number of shell corporations, before they could get to the money, they had to pierce the corporate shell and show that Alex Jones and his corporation(s) were one and the same. Once they had done that, they were able to get involved in his bankruptcy and have now recommended liquidating his empire so they can get money.
I think it is complicated, but similar. If we are talking about a liquidation, the first people in line would be the creditors. The amount of debt that an asset has impacts its value. I don't think that means someone can load up an asset with debt after a ruling, but creditors do get paid prior to settlements.
As part of the NY fraud case, there is a court appointed monitor overseeing the Trump organization. He found a $50 million debt that Trump owes to one of this companies, Chicago Unit Acquisition. The thing is - this loan never existed. What appears to have happened is that in 2008 Trump was in a massive hole from his Chicago projects and one of the firms he was dealing with cancelled half of a $100 million loan made to him. But Trump didn't want to pay taxes on that $50 million windfall so he invented this new debt out of thin air. I wonder how much interest and penalties there are on a 16 year old unpaid tax bill. I hope we get to find out.
Judge Kaplan: “Mr. Trump's current situation is a result of his own dilatory actions. He has had since January 26 to organize his finances with the knowledge that he might need to bond this judgment, yet he waited until 25 days after the jury verdict …to file his prior motion… https://t.co/X7DF3Oh0RB— George Conway (@gtconway3d) March 7, 2024 Please force him to sell bedminster first. I’ve heard great things about the course and get multiple invites a year to play it. Pretty please
Oh…and before our local dipshits show up…no carol doesn’t get the money. It’s held in escrow by the court until his appeals are exhausted. And you can use google to find out what escrow means. And dilatory.
Carroll has said she does not care about the money and will donate all of it. She only wanted Trump to experience consequence for his actions.
That's only true if Trump appeals. If Trump fails to pay his bond and file an appeal by next week, Carroll's lawyers can start seizing Trump's assets up to the $83.3 million judgement.
Donald Trump has turned his campaign fundraising cash into his private piggybank for paying his personal legal expenses. When I looked at the way he had formed his campaign funding entity I thought it might be subject to his creditors' claims. I think he may have tried to— Tim Hogan 浩勤 (@TimInHonolulu) March 8, 2024 I realize this is the stretchiest of stretches but…man…if EJC and Tish James can somehow end up bankrupting the RNC I would….on second thought…I probably won’t post what would happen to me because it would be gross and TMI (in a good way)
He apparently just posted bond. I’ll be honest I didn’t think he’d be able to. Looks like someone (Musk? Putin?) just decide to light $90 million on fire.
BREAKING: Trump has coughed up the $91.6M bond to appeal the E Jean Carroll verdict. The source of the money isn't known. https://t.co/EsAJYlQBcD— Mueller, She Wrote (@MuellerSheWrote) March 8, 2024 Looks like the E Jean Carroll bond was guaranteed by a subsidiary of the Chubb Group. Trump appointed Chubb Group CEO Evan Greenberg to the Advisory Committee for Trade Policy and Negotiations in 2018. So I guess he owes him one. pic.twitter.com/ddQvmYl5VL— Mueller, She Wrote (@MuellerSheWrote) March 8, 2024