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re: Breaking: Trump is unable to make $464 million bond in civil case
Posted on 3/18/24 at 4:06 pm to Warboo
Posted on 3/18/24 at 4:06 pm to Warboo
Haven't seen a list but supposedly the number was over 30.
According to Trump Organization general counsel Alan Garten
"We approached more than 30 surety companies, proposing to pledge as collateral a combination of cash or cash equivalents and unencumbered real estate holdings…[T]he vast majority simply do not have the financial strength to handle a bond of this size. Of those that do, the vast majority are unwilling to accept the risk associated with such a large bond."
According to Trump Organization general counsel Alan Garten
"We approached more than 30 surety companies, proposing to pledge as collateral a combination of cash or cash equivalents and unencumbered real estate holdings…[T]he vast majority simply do not have the financial strength to handle a bond of this size. Of those that do, the vast majority are unwilling to accept the risk associated with such a large bond."
0
Posted on 3/18/24 at 4:06 pm to The1TrueTiger
quote:
And he will lose that appeal as well
You are a true believer arent you
Posted on 3/18/24 at 4:06 pm to loogaroo
quote:
What if Trump said screw you! Put me in Jail.
I honestly think that would end the election right now. They're making him a martyr and they are vastly underestimating how damaging this is for them.
Posted on 3/18/24 at 4:17 pm to imjustafatkid
What happened to your old avatar? PC hit TD?
The fat kid and Big Perm are awesome avatars!
The fat kid and Big Perm are awesome avatars!
Posted on 3/18/24 at 4:18 pm to Warboo
quote:
What you want the truth to be is not necessarily the truth. It is "hopium" though.
The truth is the truth, not what I hope for it to be. I always accept the truth, weather I like it or not. Like right and wrong, sometimes the right thing to do isn't beneficial for you personally.
Posted on 3/18/24 at 4:23 pm to Warboo
quote:
Which "surety" companies would not back him?
Literally 100% of them
Do you want me to list every surety company on the planet? Because each one of them didn’t back him
Posted on 3/18/24 at 4:23 pm to Harry Rex Vonner
quote:
rogue judgements by state courts can be appealed to federal court/US Supreme Court
Only after appeal and writ practice through the state supreme court.
Edit to include quote.
This post was edited on 3/18/24 at 4:25 pm
Posted on 3/18/24 at 4:26 pm to roadGator
quote:
Why aren’t Trump supporters donating more?
You are seriously a pathetic excuse for a human.
Posted on 3/18/24 at 4:28 pm to SDVTiger
quote:Any advertising is good advertising. This would be the last straw. Hordes of on-the-fence voters will cross into RED territory.
Please try and seize Trump Tower and hotel
Would be amazing to witness
Posted on 3/18/24 at 4:29 pm to Jjdoc
Thanks JJ. But it’s you that that isn’t digging deep enough. If you cared you would. Don’t be mad a me for noticing your lack of commitment.
Do you miss starting 30 bullshite threads a day?
Do you miss starting 30 bullshite threads a day?
This post was edited on 3/18/24 at 4:32 pm
Posted on 3/18/24 at 4:33 pm to momentoftruth87
quote:
I have a masters and I’m the last to brag about it. Would have never went to college if it wasn’t free via GI Bill.
Oh the beautiful fricking irony of this.
Posted on 3/18/24 at 4:34 pm to DEG
And he constantly digs at Roger for taking handouts.
Posted on 3/18/24 at 4:51 pm to udtiger
quote:
quote:
Most likely, the corporation will file a Chapter 11 bankruptcy to halt collection efforts until appeal is decided
Finding of fraud prevents this
Putting fraud aside, can you file BK if you have the assets to fully cover your obligations multiple times over?
This post was edited on 3/18/24 at 4:52 pm
Posted on 3/18/24 at 5:07 pm to AubieinNC2009
quote:
No he can't dumbass there are steps to go through first. Also, this is in state court so it would go to the NY State supreme court first.
You are wrong on all counts.
Posted on 3/18/24 at 6:01 pm to imjustafatkid
quote:
I honestly think that would end the election right now. They're making him a martyr and they are vastly underestimating how damaging this is for them.
He wins no matter what they do.
Posted on 3/18/24 at 6:12 pm to cwill
quote:
Putting fraud aside, can you file BK if you have the assets to fully cover your obligations multiple times over?
good question, i assume the answer has to do with what is he bankrupting and how are those valuable assets held?
I am not sure if it is the amount that is the problem, so much as the limited time the court allowed to come up with the money that is the problem.
Posted on 3/18/24 at 6:18 pm to supatigah
That’s exactly the issue, the 30 days leave little options. This was done intentionally!
Posted on 3/18/24 at 6:26 pm to cwill
quote:
utting fraud aside, can you file BK if you have the assets to fully cover your obligations multiple times over?
A voluntary Chapter 11 petition does not have a solvency requirement, it just has the requirement of cause. See 11 U.S.C. § 1112(b)(4). There are 16 express causes, but the court is pretty lenient (eg potential loss of commercial lease). It’s meant to prevent unnecessary liquidations ( as is being discussed in lots of examples here)
Of course, this has its own problems as all crefitors may be coming to such proceeding because NY cast its net broadly on the individuals and business entities. You also do have to file asset and ltabilitu valuations so you may open yourself to more attack
Posted on 3/18/24 at 6:32 pm to SirWinston
O bond, no appeal. Standard procedure. Maybe he’s screwed.
He doesn’t have unlimited wealth.
He certainly doesn’t have the liquidity.
He doesn’t have unlimited wealth.
He certainly doesn’t have the liquidity.
Posted on 3/18/24 at 6:32 pm to dukkbill
Exactly, folks do not understand that there are laws that govern this shite! The judge did a clever job of forcing Trumps hand, and the DA too, however, these are people blinded by rage, rational people have the upper hand. Laws protect both sides! The less then 30 days was intentional, it’s a JOKE! No wealthy people can come up with a half billion in less then 30 days. ZERO!
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