begooode Posted February 16, 2024 Report Share Posted February 16, 2024 (edited) Waiting for Trump and co to declare victory lol. If the dissolution would have been harmful to other legit stakeholders, it certainly makes sense to accommodate for that. Total victory might not have been a reasonable outcome, and likely subject to even more protracted litigation from Trump and others. ... Prior to the 11-week bench trial, Engoron had said New York Attorney General Letitia James (D) had already proven the core of her sprawling fraud case against the former president, ordering Trump’s New York business certificates be dissolved. It led to a swarm of questions over whether it meant Trump would lose control of Trump Tower and his other famed properties. But in his decision Friday, Engoron walked it back. He ordered that his September decision be modified “solely to the extent of vacating the directive to cancel defendants’ business certificates.” It’s a major reversal after Engoron effectively stripped Trump of his ability to continue as a real estate mogul in New York, recommending at the time that independent receivers begin managing the “dissolution of the canceled LLCs.” On Friday, however, Engoron noted that dissolving Trump’s companies en masse “could implicate serious economic concerns.” Despite the twist, however, Engoron’s ruling overall still delivers a striking blow to the former president’s business empire and leaves the door open that an independent monitor could still cancel some of the former president’s business certificates. https://thehill.com/regulation/court-battles/4473261-judge-pulls-back-from-dissolving-trumps-businesses-in-fraud-ruling/ Edited February 16, 2024 by begooode Link to post Share on other sites More sharing options...
ctm Posted February 16, 2024 Report Share Posted February 16, 2024 In practice the 355M judgement is going to be considerably higher. 9% interest accrues from the time Trump committed the individual frauds. Those dates were set by the judge in his ruling. In addition, when/if Trump posts an appeal bond he has to add 20% to the total judgement to secure the bond. IsntLifeFunny, and Starkiller 2 Link to post Share on other sites More sharing options...
begooode Posted February 16, 2024 Report Share Posted February 16, 2024 Just now, ctm said: In practice the 355M judgement is going to be considerably higher. 9% interest accrues from the time Trump committed the individual frauds. Those dates were set by the judge in his ruling. In addition, when/if Trump posts an appeal bond he has to add 20% to the total judgement to secure the bond. Is Trump personally liable or is the disgorgement ordered from the Trump Corp? Link to post Share on other sites More sharing options...
ctm Posted February 16, 2024 Report Share Posted February 16, 2024 Just now, begooode said: Is Trump personally liable or is the disgorgement ordered from the Trump Corp? DK. But I'd guess the Trump org. Problem is that no one has any idea what his properties are worth net liabilities and capital gains if sold. Starkiller, and begooode 2 Link to post Share on other sites More sharing options...
begooode Posted February 16, 2024 Report Share Posted February 16, 2024 1 minute ago, ctm said: DK. But I'd guess the Trump org. Problem is that no one has any idea what his properties are worth net liabilities and capital gains if sold. Or if a significant portion of the liabilities were somehow personally secured by Trump. LOFL, please let it be so! ctm, and IsntLifeFunny 2 Link to post Share on other sites More sharing options...
ctm Posted February 16, 2024 Report Share Posted February 16, 2024 Michael Cohen just said that Trump couldn't get anyone to bond the original 5M judgement for E. Jean Carroll. That's why he wrote a check. IsntLifeFunny, MadMax, ChemEngr79, and 1 other 4 Link to post Share on other sites More sharing options...
begooode Posted February 16, 2024 Report Share Posted February 16, 2024 Of course, LOFL ... Additionally, the Trump campaign sent out an email an hour after the ruling calling on his supporters to donate to his presidential bid to “end the which hunt” against him. https://thehill.com/homenews/campaign/4473392-trump-lashes-out-after-new-york-fraud-ruling/ Link to post Share on other sites More sharing options...
ctm Posted February 16, 2024 Report Share Posted February 16, 2024 The judge's ruling.... https://www.nytimes.com/interactive/2024/02/16/nyregion/trump-fraud-engoron-decision-annotated.html Link to post Share on other sites More sharing options...
ctm Posted February 16, 2024 Report Share Posted February 16, 2024 (edited) L. James just said there is approximately 100M in pre-judgement interest on top of the judgement which will continue to accrue (9%) until the judgement is paid. Current computation is 453M (judgement + interest) and counting. Edited February 16, 2024 by ctm Link to post Share on other sites More sharing options...
ctm Posted February 16, 2024 Report Share Posted February 16, 2024 I say the same thing I said about Vrabel as Trump's cash flow and financial condition.... It's not sustainable. Link to post Share on other sites More sharing options...
titanruss Posted February 17, 2024 Report Share Posted February 17, 2024 Read this on reddit and it's great... "Trump is expected to immediately appeal the decision, but doing so will be a logistical nightmare. New York requires that a person seeking to pause this kind of judgment immediately front a massive sum, anywhere from 110 percent to 120 percent of the judgment. And while Trump boasted in sworn testimony last year that he had some $400 million in cash, that wouldn’t be enough to cover this bank fraud judgment and last month’s $83 million verdict in his rape defamation case. Both cases require him to post the money up front, squeezing him at the same time." Starkiller, and IsntLifeFunny 2 Link to post Share on other sites More sharing options...
Strunk'sDessert Posted February 17, 2024 Report Share Posted February 17, 2024 I love this. He's a crook getting his justice. But how desperate does this make him? Will he just ride the wave until the election hoping he regains power or does he start doing some dumb shit that no one had even thought about? Honest question. I'm glad justice is being served in some regard, but how much more wild could he get now? Link to post Share on other sites More sharing options...
Starkiller Posted February 17, 2024 Report Share Posted February 17, 2024 (edited) For what it’s worth, Trump could sell his properties in NYC and pay the fine. He likely doesn’t have the cash now but he could generate it. He isn’t going to go bankrupt off this case alone. But it’s still devastating for him financially. Edited February 17, 2024 by Starkiller Link to post Share on other sites More sharing options...
Starkiller Posted February 17, 2024 Report Share Posted February 17, 2024 In case anyone wants to know how they came to the dollar amount on the fine: https://www.cnn.com/politics/live-news/trump-civil-fraud-trial-decision-02-16-24/index.html Engoron found that the defendants’ fraud saved them about $168 million in interest, fining Trump and his companies that amount. He also ruled that Trump and his companies were liable for $126 million in ill-gotten profits from the sale of the Old Post Office in Washington, DC, and that Trump and his companies were liable for $60 million in profits from the sale of Ferry Point in the Bronx. Engoron also wrote that Trump would be required for interest on those payments. begooode 1 Link to post Share on other sites More sharing options...
begooode Posted February 17, 2024 Report Share Posted February 17, 2024 (edited) This is the guy the Character Counts gop have built their party around. Yet this finding is totally on brand for a pos like Trump — from Judge Engoron’s ruling: Edited February 17, 2024 by begooode MadMax, titanruss, Justafan, and 1 other 4 Link to post Share on other sites More sharing options...
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