Seizing Trump’s New York properties will not be easy for Letitia James

[WorldWatcher]

I would look for a higher court getting involved with a stay, while they review the whole sorted thing.

Very possible, we'll see in the next few days.

If FPOTUS#45 can post the bond/escrow tomorrow, that's fine.

If not, come Tuesday it wouldn't be surprising for the State of New York to start seizure proceedings. Seizure, without a stay, of cash assets will be pretty quick so the appellate level will have to move pretty quickly to stay at least partial enforcement.

WW

 

[Tommy Tainant]

Public ownership = communism and shit.

Many things are owned in the public interest.

 

[Orangecat]

That is good to hear. How do wronged parties get redress ?

Who is the wronged party? The banks who were repaid with interest, on time?

 

[Orangecat]

Many things are owned in the public interest.

Irrelevant. There is no public interest in stealing hotels and golf course, you commie bitch.

 

[22lcidw]

dems have kicked your asses steadily and easily and oh so fairly since 2018.

It's not going to stop.

The beauty us the decline will continue. Spiraling downward more and more. And Progs will blame others like they always do and/or deny and lie.

 

[Tommy Tainant]

Why?

Because it probably went something like this:

• Ring, Ring
• Jared: "Hello"
• Donny: "Hey Jared, it's Donny, I was wondering if you..."
• Jared: "click"
• Donny: "Hello, HELLO, anyone there... Shit."

WW

Jared needs to invest in call screening. He can block nuisance calls.

 

[Donald H]

If FPOTUS#45 doesn't either:

• Post the bond through a surety backer,
• Post the escrow based on liquid assets,
• Post a hybrid solution in cooperation with the State to the Judge,
• Get an enforcement suspension from the appeals court

I would expect the State to go after assets in the following order:

• Liquid personal and corporate bank accounts.
• None real estate assets that can be quickly sold, such as: Trump Force One, Citation (corporate jet), and multiple helicopters in addition to such things as art work and other valuables that can be seized and sold.
• Liens on property to prevent it sale pending full satisfaction of the judgement.

While seizing real estate makes the biggest headlines, my gut tells me that they would be the lowest on the list since they will involve other 3rd parties making the process much longer.

WW

How so? grabbing real estate assets is immediate. Really about the same as the government seizing your house.

Putting a price tag on it could take some time but James is holding the winning hand on that too.

If the courts weren't prepared to stop it, the real estate would be the most effective method.

 

[Tommy Tainant]

Irrelevant. There is no public interest in stealing hotels and golf course, you commie bitch.

The public are owed by trump. They can sell off his shit to make payment.

 

[Billo_Really]

Seizing Trump’s New York properties will not be easy for Letitia James

Attorney general could face same problems as ex-president in trying to liquify assets to meet the $454m fine amount

www.theguardian.com

This seems hard work. Obviously cash would be better than property.

But I wonder if Ms James might take any property income from these places. It would likely cover the interest that trump is building up every day. But trump probably needs that income to pay off the mortgage, That might be a problem

It would also leave the portfolio intact pending any appeal.

Liquidating the property might be beneficial if trump actually owns the property rather than it being mortgaged to the hilt. In that case the lender has first dibs on the payout.

Trump 1 must be worth something but again it is likely to be held on a lease.

I do wonder if it might just be easier to lock him up in debtors prison until he can clear the tab.

No, it's best that they take his shit.

He can't even get the RNC to pay his debt, because they only raised 33 million. Biden, in contrast, has raised 71 million.

 

[Tommy Tainant]

How so? grabbing real estate assets is immediate. Really about the same as the government seizing your house.

Putting a price tag on it could take some time but James is holding the winning hand on that too.

If the courts weren't prepared to stop it, the real estate would be the most effective method.

The question is if he actually owns it or is it heavily mortgaged.

 

[Orangecat]

The public are owed by trump. They can sell off his shit to make payment.

Owed for what?
Him paying off loans?

 

[John Edgar Slow Horses]

It's probably both, Tommy.

 

[j-mac]

Would trump want more auditors looking thru his affairs ?

If you don’t understand the process, best to not opine on it, lest you look foolish…

 

[j-mac]

Very possible, we'll see in the next few days.

If FPOTUS#45 can post the bond/escrow tomorrow, that's fine.

If not, come Tuesday it wouldn't be surprising for the State of New York to start seizure proceedings. Seizure, without a stay, of cash assets will be pretty quick so the appellate level will have to move pretty quickly to stay at least partial enforcement.

WW

Then say it with me, President Trump…

 

[WorldWatcher]

How so? grabbing real estate assets is immediate. Really about the same as the government seizing your house.

Putting a price tag on it could take some time but James is holding the winning hand on that too.

If the courts weren't prepared to stop it, the real estate would be the most effective method.

Okay, I mean I can respect the difference of opinion, but I disagree.

I mean it will be much easier to have a court judgement, walk into a bank with the order, have a meeting with the manger and hand him the judgement in exchange for a cashier's check for the amount (or ETF order if you wish).

Over trying to seize physical property, have it appraised, conduct a bidding process, enter judgment title, etc.

But again, I think property WILL be on the seizure list, I just think they will go after liquid assets first.

WW

 

[Captain Caveman]

That sounds reasonable. In th UK bankruptcy is a corrupt business. The debtor inflates his creditors in order to lower the amount he repays.

So his family and friends create claims for large bogus amounts meaning the genuine creditors get marginalised. Is that a thing in the US ?

I was in an insolvency department in a firm of accountants when the 1986 insolvency act came out. Creditors soon got wise. But yes, if you can pile debt onto a company, then liquidate it off. Financial institutions got wise to this and often want a director as guarantor, or at worst, a charge over the assets.

The preferential creditor is the tax man, and after the administrators eye watering fees, there's usually nothing left for anyone else.

The 1986 act introduced voluntary arrangements.

 

[skews13]

How about Trump Tower up her ugly fat ass.

 

[WorldWatcher]

Then say it with me, President Trump…

Trump's not President, why would I say that?

Hence my use of FPOTUS#45 (the "F" means Former).

Now whether he will be President at 12:00 on January 20, 2025 - that is anyone's guess. Neither FPOTUS Trump or POTUS Biden are well liked, so it will be a race to see who is the less disliked.

WW

 

[Concerned American]

I do wonder if it might just be easier to lock him up in debtors prison

Another foreign anti-American Einstein. We don't have debtor's prisons, moron. We have a constitution--for the time being, anyway.

 

[Donald H]

Okay, I mean I can respect the difference of opinion, but I disagree.

I mean it will be much easier to have a court judgement, walk into a bank with the order, have a meeting with the manger and hand him the judgement in exchange for a cashier's check for the amount (or ETF order if you wish).

Over trying to seize physical property, have it appraised, conduct a bidding process, enter judgment title, etc.

But again, I think property WILL be on the seizure list, I just think they will go after liquid assets first.

WW

Think it through as if it was your house being grabbed. You lose it immediately and in the case of Trump's properties, he loses all income or benefits coming from the property. The paper wok comes later, except for James attaching a price to the property.

Would you like to have your enemy attach a price to your house?