Trump fears he may have to “sell Great Assets, perhaps at Fire Sale prices”
Former President Donald Trump lashed out at the judge who imposed a $450+ million penalty in his New York fraud case after his lawyers admitted he was unable to secure a bond to appeal the case.
Trump’s lawyers on Monday asked a New York appeals court to stay the enforcement of the judgment in his fraud case, saying it has been impossible to secure a bond necessary to appeal the judgment after approaching 30 different underwriters.
The former president lashed out at the judge on Truth Social after the filing.
“Engoron wants me to put up the ridiculous fine (I DID NOTHING WRONG!) before I get a chance to Appeal his crazed ruling - A first!” Trump falsely wrote. New York law requires a defendant to put up the full judgment amount with interest in order to appeal a civil judgment.
Only if the buildings are not already leveraged to the hilt. This could very well be a domino that causes all others to fall.
I all but guarantee he’s underwater on at least a few of them. If he’s forced to divest, he may actually lose money.
The weird thing about it is like, of course you have to mortgage your property? What was he trying to secure the loan with, his good name?
Implied future promises when he is president. But mortgage means the mortgage broker gets dibs on the property.
He probably used loans with the real estate as collateral. But mortgage is very specific. And having a mortgage on a property can mean the other loans that are using it as collateral automatically become due (T&C of the loans apply… but this is a no brainer). And the property cannot be used as collateral for anything else by the mortgage owner.