He says he’s gonna appeal his NYS judgement that could amount to $450 MILLION with interest …..
And?
His $83 MILLION judgement in the E. Jean Carroll case…..
If he don’t come up with the appeal money?
The government COULD start seizing his stuff and freeze bank accounts….
Imagine THAT?
Politico: “In the civil fraud case, which is in New York state court, if Trump can’t post the funds or get a bond, then the judgment would take effect immediately and a sheriff could begin seizing Trump’s assets.”
“The rules are slightly different in federal court, which is the venue for the $83.3 million judgment that Trump owes for defaming the writer E. Jean Carroll after she accused him of raping her. (He also owes Carroll an additional $5 million from a separate verdict last year.) Carroll could pursue post-judgment discovery under the jurisdiction of the judge who oversaw the trial. Through that process, the judge could order Trump to produce his bank account records, place liens or garnish his wages…”
“In all three cases, he has to put money in an escrow account with the court or get a bond while he’s appealing the verdicts.”
More from the above linked piece….
Can Trump delay payment by appealing the verdicts?
No. In all three cases, he has to put money in an escrow account with the court or get a bond while he’s appealing the verdicts.
With the civil fraud verdict, which Trump has vowed to appeal, the amount to be posted or bonded is set by the court. It is typically about 120 to 125 percent of the judgment amount, to account for additional post-judgment interest that accrues during the appeal.
With last year’s Carroll verdict, which Trump has appealed, he turned over $5.5 million to the court, which was worth 111 percent of the judgment.
For the more recent Carroll verdict, which Trump has also vowed to appeal, 111 percent of the judgment would be $92.46 million. Trump has a 30-day window after the Jan. 26 verdict to either pay cash into the court’s escrow or get a bond while he appeals. If he chooses to file a bond, he will likely have to pay a 20 percent deposit ($16.66 million) and put up collateral, but it could come with fees and interest, making it more expensive in the long run. And it would require Trump to find a third party willing to take on the risk of loaning him money…..
Note….
Hell of a way to run for President, eh?