π¨ Trump finally forced to make confession he's been DREADING
TLDRIn the latest 'Legal Breakdown', hosts discuss Donald Trump's inability to secure a $455 million bond for a New York fraud case judgment. Trump's offer to pay just a fraction of the amount due is seen as insulting and unlikely to be accepted by the courts. The hosts highlight the irony of Trump's situation, where his public displays of wealth contrast with his claims of financial inability, and speculate on the potential outcomes, including the seizure of his properties to satisfy the judgment.
Takeaways
- π Donald Trump is facing a $455 million judgment in a New York fraud case and is unable to secure a bond for this amount.
- π The clock is ticking for Trump to come up with the money, and if he fails, there could be significant consequences.
- πΌ Trump's lawyers have disclosed that he does not have the liquid assets he claims to have, which is a significant revelation.
- πΈ Trump has offered to put up a bond for just $100 million, which is a fraction of the amount he owes, indicating a lack of funds.
- ποΈ The New York state law allows the attorney general to seize properties to satisfy money judgments, which could be applied to Trump's case.
- π« Trump is trying to prevent the seizure of his properties by offering a significantly reduced payment, which is not in line with legal norms.
- π He has filed an appeal and is seeking a temporary stay on the execution of the judgment from a single judge, pending a full appeal.
- π€ The courts are unlikely to show leniency or grant special status to Trump due to his wealth, influence, or political aspirations.
- π’ Trump's visible wealth, such as Trump Tower and his lifestyle, makes his claim of insolvency more difficult to argue in court.
- π If the appeals court denies his request, Trump may be forced to sell off his New York properties under exigent circumstances at a loss.
- π The situation is unfolding rapidly, with decisions expected to be made promptly, and the outcome could set a significant legal precedent.
Q & A
What is the current situation regarding Donald Trump's $455 million judgment in the New York fraud case?
-Donald Trump's lawyers have disclosed that he is unable to secure a bond for the $455 million judgment against him in the New York fraud case. The clock is ticking, and if he cannot come up with the money, which seems to be the case, there could be significant consequences.
What does it mean if Donald Trump cannot secure the bond for the judgment?
-If Trump cannot secure the bond, it could indicate that he does not have the liquid assets or the financial means he claims to have, which could lead to the seizure of his properties to satisfy the money judgment as allowed by New York state law.
What is the significance of the $100 million bond that Donald Trump offered?
-The offer of a $100 million bond suggests that Trump does not have the full amount required to file an appeal. It also implies that he had to ensure an unknown amount to secure even this reduced bond, indicating financial constraints.
What are the legal implications if Donald Trump is unable to pay back the $455 million?
-If Trump is unable to pay back the money, he could face the seizure of his properties by the New York attorney general, Tish James, to satisfy the judgment as per the law.
What does the term 'put up or shut up' refer to in the context of Donald Trump's appeal?
-The term 'put up or shut up' refers to the requirement for Trump to either deposit the full $550 million into a court escrow account to file his appeal or to secure a bond for the full amount of the judgment.
Why is Donald Trump's offer to pay 20 cents on the dollar considered insulting by the legal experts?
-The offer is considered insulting because it significantly undervalues the amount he was ordered to pay back after defrauding banks and institutions, and it reflects a lack ofθ―ζ in addressing the legal consequences of his actions.
What is the process if Donald Trump seeks a temporary stay on the execution of the judgment?
-Trump can file an emergency request with a single judge on the appellate court to get a brief stay or pause in the execution of the judgment. If granted, this would allow him to appeal the issue to a full three-judge panel.
What are the three alternatives for Donald Trump to address the judgment according to the law?
-The three alternatives are: 1) Put up the cash and deposit it into the court's escrow account to file an appeal, 2) Secure a bond from someone to cover the full amount of the judgment and file an appeal, or 3) Allow the New York attorney general to seize and sell his properties to satisfy the judgment.
How does the court typically respond to requests for more time to come up with money in cases involving large judgments?
-The court generally does not grant extensions based on the size of the judgment alone. However, if there are legal issues that undermine the judgment, the appellate court may make corrective rulings.
What impact could Donald Trump's visible wealth and assets have on his case?
-His visible wealth and assets could make it more difficult for him to argue that he cannot satisfy the judgment, as it contradicts his claims of financial constraints.
What is the expected timeline for the resolution of Donald Trump's appeal?
-Given the high-profile nature of the case and the urgency of the situation, it is expected that the resolution will be prompt, possibly within days rather than weeks or months.
Outlines
π Trump's $455M Judgment and Bond Struggles
The video script discusses the inability of Donald Trump's lawyers to secure a bond for a $455 million judgment against him in a New York fraud case. It highlights the implications of Trump's financial claims versus reality, suggesting he does not possess the assets he alleges. The script details Trump's proposal to the court to provide a significantly reduced bond, which the hosts find insulting and unlikely to be accepted. They also touch on the potential need for Trump to deposit an additional amount to file an appeal and the broader legal and financial repercussions of his situation.
ποΈ Legal Ramifications of Trump's Financial Shortfall
This paragraph delves into the potential outcomes if Trump fails to meet the financial obligations from the judgment. It mentions the possibility of having to sell off New York properties under duress and the legal alternatives available to him, such as providing a cash deposit or securing a bond. The discussion also addresses the irony of Trump's situation, juxtaposing his public image of wealth with his current financial struggles, and speculates on the court's potential lack of leniency given the size and nature of the judgment.
π« The Impact of Trump's Lavish Lifestyle on His Legal Case
The final paragraph of the script examines how Trump's public displays of wealth, such as his jet-setting lifestyle and prominent real estate holdings, could complicate his legal arguments. It suggests that these visible signs of wealth may weaken his claims of financial hardship and inability to pay the $455 million judgment. The hosts anticipate that Attorney General James may use these factors against Trump in the appeals process and emphasize the need for Trump to satisfy the judgment, potentially through the sale of his assets.
Mindmap
Keywords
π‘Bond
π‘Judgment
π‘Appeal
π‘Disgorgement
π‘Attorney General
π‘Pleading
π‘Insulting Offer
π‘Seizing Properties
π‘Legal Breakdown
π‘Extinguishing Obligations
π‘Equities
Highlights
Donald Trump's lawyers disclosed that he is unable to secure a bond for his $455 million judgment in the New York fraud case.
Trump would have to deposit about another hundred million on top of the $455 million if he wanted to file an appeal, totaling $550 million.
Trump offered to put up a bond for just a hundred million and requested the court not to allow Attorney General Tish James to begin seizing his property.
The court generally does not accept offers like Trump's, where he proposed to pay only 20 cents on the dollar owed.
If Trump had all the money he claims, he could just put up the whole $550 million in a court escrow account.
Trump's inability to secure a $100 million bond in cash indicates he doesn't have the liquid assets he claims.
This situation mirrors many tales of Trump refusing to pay contractors fully, offering them less money instead.
Attorney General Tish James can begin satisfying the judgment by seizing Trump's properties.
Trump's properties might be heavily mortgaged, making it difficult for him to use them as collateral.
The court might not grant Trump special status or leniency due to his influence, wealth, or political status.
There is a procedure in New York that allows Trump to file an emergency request for a brief stay in the execution of the judgment.
Trump is expected to make an appeal to a three-judge panel, which will likely make a decision promptly.
It's unconvincing to the court that Trump defrauded so many and now claims he doesn't have the money to make them whole.
Trump's visible wealth and assets, like his jet and Trump Tower, undermine his claim that he can't pay the judgment.
Attorney General James may argue that Trump needs to satisfy the judgment even if it means selling off some of his prized assets.
Transcripts
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