The technical paperwork was filed several weeks ago in Westchester N.Y and New York City…
Trump has until March 25 to come up with bond to stop collection due to an appeal of the almost half a Billion dollar judgement fine…
Pleas to have the amount due lowered have gone unanswered by the judge and contested by Attorney General Tish James….(The judge has increased surveillance of Trump’s NY assets )
Trump’s lawyers say they don’t have the money….
Stay tuned ….
This IS gonna get interesting….
The New York attorney general’s office has filed judgments in Westchester County, the first indication that the state is preparing to try to seize Donald Trump’s golf course and private estate north of Manhattan, known as Seven Springs.
State lawyers entered the judgments with the clerk’s office in Westchester County on March 6, just one week after Judge Arthur Engoron made official his $464 million decision against Trump, his sons Donald Trump Jr. and Eric Trump, and the Trump Organization.
The decision against Trump and the difficulty the former president is having securing a bond while he appeals the verdict strikes directly at Trump’s image as a billionaire as he attempts to raise more cash for both his legal bills and third run for the White House.
Entering a judgment would be the first step a creditor would take to attempt to recover property. Additional steps, such as putting liens on assets or moving to foreclose on properties, or taking other actions in court would follow, if the asset is going to be seized.
The judgment is already entered in New York city where Trump’s properties including Trump Tower, his penthouse at Trump Tower, 40 Wall Street, his hotel abutting Central Park, and numerous apartment buildings are located.
Judgments have not been entered in Florida counties including Miami or Palm Beach where Trump’s Mar-a-Lago property and the Trump National Doral Golf Club and resort are located or Cook County, Illinois, where Trump’s hotel in Chicago is located, according to a review of records Thursday by CNN.
Trump now has four days to satisfy the judgment or sway an appeals court to allow him to post a smaller amount or defer posting the payment until after the appeal.
In a new Truth Social on Thursday, Trump said that putting up the money is “VERY EXPENSIVE” and said it was “not possible for bonding companies to do in such a high amount.”…
…
Thursday, Engoron expanded the role of the monitor overseeing the Trump Organization to include more expansive oversight of Trump’s real estate business’ internal financial practices.
Engoron also ordered the Trump Organization to supply detailed information to the monitor about its efforts to obtain bonds to cover judgments.
“The Trump Organization shall inform the monitor, in advance, of any efforts to secure surety bonds, including any financial disclosures requested or required, any information provided in response to such requests, any representations made by Trump Organization in connection with securing such bonds any personal guarantees made by any of the defendants, and any obligations of the Trump Organization required by the surety,” the judge ordered.
Engoron laid out a timeline of certain steps the Trumps must take within the next month, including providing the monitor, retired Judge Barbara Jones, with full access to its day-to-day financial operations….
…
Engoron also empowered the monitor to have copies of the Trump Organization’s monthly bank and brokerage statements, be notified in advance of any transfers above $5 million, be provided information about the creation or dissolution of business entities, and be informed in advance of any debt financing….
Note….
Remember ALL the ‘kind’ words Donald Trump threw at the judge and Attorney General?
I’m sure they do…..
jamesb says
Andrew Weissmann (weissmann11 on Threads)🌻
@AWeissmann_
Cue the Law & Order “DA-DUM” music:
The NY Attorney General liens serve to freeze the asset so Trump can’t access/dissipate it, to avoid it being used to pay the NY $464 judgment.
…
Jose Pagliery
@Jose_Pagliery
Two court clerks tell me that the New York AG has effectively placed liens on everything Donald Trump owns in Westchester County.
Her target? Seven Springs, his 212-acre forested family estate.
jamesb says
Lisa Rubin
@lawofruby
In other words, the AG’s office is saying it does not want a mess of a fire sale any more than Trump does; in lieu of an adequate bond or cash, they would much rather Trump just let the court hold the assets in a kind of escrow.
…
Lisa Rubin
@lawofruby
That doesn’t mean Tish James can’t or won’t force a sale of assets like Trump Tower. But as satisfying as some of her constituents might find it, it’s by no means her first or even second preference. Remember that if and when she is put in a position to enforce her judgment. FIN.
jamesb says
Ok?
If I get this right?
Trump is SO heavily leveraged in his real estate holdings that the AG doesn’t want to seize them…
If she was to?
She’d be handling real estate that could be losing its value like a sieve ….
But Trump can’t get rid of it because it has a Government lien on it…..
I CANNOT see how anyone would want to do a deal with him for Truth Social when he wants to pull a half billion out of it?
And it be a public company?
The value of the stock could be junk bond territory?
Would prospective share holder sue Trump for the money back?
Same with Chubb?
Trump goes in the toliet how doers Chubb get it’s escrow back if it has to wait in line after NYS gets paid ????