546
Letitia James live tweets daily interest charges on Trump’s $464m fraud ruling
(www.independent.co.uk)
this post was submitted on 27 Feb 2024
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The funny part is how so far Trump hasn't posted a bond for the appeal. Trump doesn't *have * to do it but the consequences of not doing so are basically calamitous - if he doesn't post bond then the state can seize and sell off his property to the amount he owes. Then both sides fight about it for a year or whatever while the money sits in the court's account and he is deprived of revenue from the properties sold. Oh and the interest keeps accruing. And the lawyer bill will be in the tens of millions.
I'm sure the state won't be sensitive to his reputation when deciding what to seize to cover the debts. Can you imagine the hilarity that would ensue if they sold off Trump Tower or one of his other flagship properties?
So Trump is screwed. If he does somehow post bond there will be a lot of people asking how he managed it since he surely doesn't have the cash. In that case expect firesales of his other properties and loans from super shady foreign businessmen.
I don't think that's quite how it works, but I'm not sure.
If he wants to appeal then he has to post cash or surety within 30 days. If he does not, then he can not appeal.
However, I assume that if he does not, the court will still have some song and dance to do before seizing assets.
I suspect Trump will not post bond and appeal, but rather try to delay payment as long as possible, hoping to become POTUS and just authoritarian his way out of it.
He doesn't have to post an appeal bond (otherwise known as a supersedeas bond) to appeal but not doing so means the plaintiff can seize the money pending the outcome of the appeal and can do so how they see fit after 30 days of the judgement.
So on the one hand he could put up various properties as sureties to a bond company and post bond and at least retain control & income from those properties pending appeal. Or he can fail to post bond let the plaintiffs seize what they like regardless of the harm it causes his reputation and business. I'm pretty sure E Jean Carroll and New York would be quite happy to force him to sell off Trump Tower or whatever else to meet his obligations.
But regarding surety & bond, I wonder what bond company would trust Trump's valuations of his own properties. They'll probably demand he put so much up in surety that he'd balk at it. Hence why shady foreign business men might enter the picture.