Trump must pay 464 million by today. What happens if it doesn't work?

What happens if Trump doesn't pay today?
Trump was ordered to pay $454 million or a bond guaranteeing the payment of this amount after the appeal. The decision is by Judge Arthur Engoron, In the civil trial last February in which Trump and his sons were found guilty of providing false information to banks and insurance companies in order to obtain better deals. If we add to the money owed by his sons, Don Jr. and Eric, and the Trump Organization, and the interest accumulated since the day of the ruling (at a rate of $100,000 per day), the number reaches $463.9 million. The deadline for payment is today, Monday, March 25.

Can Trump get out of this without paying?
Trump asked to be able to post lower (or no) bail pending the outcome of his appeal, stating that the damage he suffered would be irreparable if he had to sell his property if he won the appeal. His lawyers say he tried to obtain bail through thirty different insurance companies, but none were willing to provide it because they do not accept real estate as collateral and he is supposed to provide them with $550 million in cash and liquid investments. The Court of Appeal has not yet ruled on this matter. He usually issues his rulings on Tuesday or Thursday, and it is unlikely that he will issue his decision today. Declaring bankruptcy remains another option to avoid payment for months or perhaps years (New York City would have to line up with other creditors). But Trump appears unwilling to consider this option, because it would have a political cost for the White House candidate who has invested heavily in his image as a shrewd businessman.

Do you or do you not have cash?
Last Friday, Trump wrote on the “Truth” social networking network that he has approximately $500 million in cash that he intends to use in his election campaign and that Attorney James wants to take it from him. His lawyer later told US media that he was not referring to cash on hand, but rather to funds revealed in campaign documents that he had raised in the past. according to The New York TimesRecent interviews and statements indicate that until recently, the former US president had more than $350 million in cash, in addition to stocks and other investments that he could sell quickly, but it would not be enough to raise the necessary total. Trump recently had to post $92 million bail while also appealing the libel trial of journalist E. Jean Carroll. He can find someone to give him a loan. He may decide to sell smaller properties. The fact is that Trump's social network will be listed on the stock exchange today: the value of his package will be $3 billion, but there is an agreement that prevents him from selling shares for six months. He could ask shareholders (most of whom were his allies) to circumvent the agreement, but this would cause the value of the shares to decline.

Can Attorney General James seize her assets today?
New York Attorney General Letitia James and her staff could begin the complex legal process to seize Trump's assets today, but they could also decide to wait for an appeals court decision.

What assets will the prosecutor target?
It can target buildings, homes, cars, helicopters and airplanes. But he will likely first target bank accounts, which experts say are easier to attack than the properties that include the 40 Wall Street building (which he mentioned in an interview with the New York Times). Letters of News last month) and Trump Tower. To seize the property, in fact, it is necessary for prosecutors or US Marshals (federal police who have the task of ensuring the implementation of federal court rulings) to go to the headquarters of the banks held by Trump. His money, armed with a court order. The bank manager must present a check with the required value.
If it wants to target Trump's buildings or businesses, the district attorney must give the sheriff a warrant. 63 days must pass before the property can be auctioned. The fact that the District Attorney's Office notified Judge Engoron of the Westchester County ruling is seen as a signal that he is preparing to seize his Briarcliff Manor golf course and his Seven Springs property (the latter, in particular, is directly involved, along with charges against him). Offices at No. 40 Wall Street, in the fraud case).

And Mar-a-Lago?
It is difficult for the New York Attorney General to seize out-of-state property. The ruling has not yet been notified in Florida, where Mar-a-Lago is located.