When does Trump have to pay $355 MM?

91,481 Views | 1167 Replies | Last: 10 days ago by aTmAg
eric76
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AG
aggiehawg said:

Is the Truth Social deal dead? Isn't his stock worth 118 million under that deal?
There is a big lawsuit because of efforts to dilute the holdings of the two guys who built the site. That would surely slow it all down, wouldn't it?

From what I read, even if it goes through, it could be something like six months before Trump could sell his stock.
MarkTwain
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aggiehawg said:

Is the Truth Social deal dead? Isn't his stock worth 118 million under that deal?
$1.8 billion
“Never argue with stupid people, they will drag you down to their level and then beat you with experience" - Mark Twain
revvie
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AG
I remember the Pennzoil vs. Texaco case vividly because my wife worked at Getty at the time. Texaco sold most of the Getty assets at that time for pennies on the dollar to satisfy the judgement and the cash crunch at the time. She was working in the Gulf of Mexico division and about 90% of their prospect inventory was sold to independents that made BILLIONS of the divested properties. Wouldn't be surprised if the same occurs from sale of Trump properties.
Reality Check
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Antoninus said:

RogerFurlong said:

But why did they write the letter?
Because Chubb is a publicly-traded company and some shareholders were unhappy?

Look, you people are utterly convinced that the entire world is "out to get" Trump, and nothing anyone can say or show you will change your minds. The level of martyrdom is truly impressive. It is what it is.
A $455 million penalty generated by only two people -- a Democrat attorney general who literally pledged she would get Donald Trump and a Democrat judge who literally said he wasn't going to listen to what Donald Trump had to say -- in a transaction that had zero victims is the very definition of being "out to get Trump."

And if an appeals court of three Democrats determines an "excessive fine" must be paid in order to appeal an "excessive fine" on Eighth Amendment grounds that specifically prohibit "excessive fines," that's going to total FIVE partisans engaged in this scheme to steal hundreds of millions of dollars from the former president as a result of zero tangible misconduct.
Author of the TexAgs Post of The Day - May 31, 2024

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fc2112
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aggiehawg said:

Quote:

Hopefully the appeals court will see the complete lack of logic in demanding an amount of money that violates the Eighth Amendment to appeal an unreasonable ruling that violates the Eighth Amendment.
Under Pennzoil I don't think there is a valid 8th amendment claim and that was billions in bonding requirements.

To be clear, Trump can still appeal but he lacks the ability to forestall collection efforts during that time frame in the absence of the approved bond amount.
Thank you Hawg. That's the reason I started this thread - all the COME AND TAKE IT rhetoric is just noise when the state can literally come and take it as it appears we're headed towards.
fc2112
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BTW - do we know the date at which the State of New York can start seizing Trump's properties.

EDIT: March 25 is D Day per Reuters.
MarkTwain
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fc2112 said:

BTW - do we know the date at which the State of New York can start seizing Trump's properties.
Trump's deadline for doing so is March 25, unless the appeals court agrees to either stop the judgment or allow him to post a bond for a smaller amount.
“Never argue with stupid people, they will drag you down to their level and then beat you with experience" - Mark Twain
GenericAggie
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AG
This won't be like people are projecting. They won't show up with chains and locks. We're very far from that.
Reality Check
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GenericAggie said:

This won't be like people are projecting. They won't show up with chains and locks. We're very far from that.
You underestimate the TDS of Letitia James.

We're about seven days away from chains and locks. And if her actions are deemed illegal or inappropriate later, she'll deal with that fallout. It's all about inflicting maximum pain upon the former president while she can. If you don't believe it, look back at her campaign rhetoric.
Author of the TexAgs Post of The Day - May 31, 2024

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fc2112
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GenericAggie said:

This won't be like people are projecting. They won't show up with chains and locks. We're very far from that.

You don't think the NY AG wants that photo op?
aggieforester05
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AG
Reality Check said:

GenericAggie said:

This won't be like people are projecting. They won't show up with chains and locks. We're very far from that.
You underestimate the TDS of Letitia James.

We're about seven days away from chains and locks. And if her actions are deemed illegal or inappropriate later, she'll deal with that fallout. It's all about inflicting maximum pain upon the former president while she can. If you don't believe it, look back at her campaign rhetoric.
She belongs in Federal PMITA prison.
Opalka
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CSTXAg92 said:

1) He shouldn't pay
2) If does pay anything, he should pay her lyin' ass in pennies
He doesn't actually pay HER, personally. Let's not forget that a jury decided Trump's guilt, not the judge.
VegasAg86
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AG
Opalka said:

CSTXAg92 said:

1) He shouldn't pay
2) If does pay anything, he should pay her lyin' ass in pennies
He doesn't actually pay HER, personally. Let's not forget that a jury decided Trump's guilt, not the judge.
lol, classic "liberals know so much that isn't so". There was no jury in this case.
Sharpshooter
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AG
Opalka said:

CSTXAg92 said:

1) He shouldn't pay
2) If does pay anything, he should pay her lyin' ass in pennies
He doesn't actually pay HER, personally. Let's not forget that a jury decided Trump's guilt, not the judge.
Wut??
Im Gipper
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VegasAg86 said:

Opalka said:

CSTXAg92 said:

1) He shouldn't pay
2) If does pay anything, he should pay her lyin' ass in pennies
He doesn't actually pay HER, personally. Let's not forget that a jury decided Trump's guilt, not the judge.
lol, classic "liberals know so much that isn't so". There was no jury in this case.
I believe he is talking about Jean Carroll. She is the lyin ass here. Hard to keep up with so many! (Jean, Fani, Letitia, Stormy)

I'm Gipper
techno-ag
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AG
Reality Check said:

Antoninus said:

RogerFurlong said:

But why did they write the letter?
Because Chubb is a publicly-traded company and some shareholders were unhappy?

Look, you people are utterly convinced that the entire world is "out to get" Trump, and nothing anyone can say or show you will change your minds. The level of martyrdom is truly impressive. It is what it is.
A $455 million penalty generated by only two people -- a Democrat attorney general who literally pledged she would get Donald Trump and a Democrat judge who literally said he wasn't going to listen to what Donald Trump had to say -- in a transaction that had zero victims is the very definition of being "out to get Trump."

And if an appeals court of three Democrats determines an "excessive fine" must be paid in order to appeal an "excessive fine" on Eighth Amendment grounds that specifically prohibit "excessive fines," that's going to total FIVE partisans engaged in this scheme to steal hundreds of millions of dollars from the former president as a result of zero tangible misconduct.

Hopefully this is outrageous enough to get people to the polls and get Trump reelected.
Trump will fix it.
Stat Monitor Repairman
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Letitia's got an unpaid judgment and she needs cash now!

Call 877-CASH-NOW.
PA24
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AG
All these lawsuits are not what they appear, once Trump is the nominee, the left will have gotten what they wanted all along. Nothing will come of these silly lawsuits don't cha know.

It's just a trap.
Antoninus
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PA24 said:

It's just a trap.
will25u
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Stat Monitor Repairman
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O'Leary's got a point that's in line with what some of us have been saying all along.

The strength of America lies with financial stability, and with that, stability and predictability of the legal regime itself.

Everybody is on notice of the rules and those rules are applied with consistency across the board. Any banana republic **** that upsets that balance is a detriment to the system. When people lose confidence in the stability of the system it causes problems (cloward-piven).

There's a couple different global markets for real estate as a store of wealth. Theres a large percentage of NY apartments that sit vacant as a store of wealth rather than a residence.

So when people globally see what the State of New York is doing to Trump, namely divesting property as a political tool, they start to question the overall confidence and stability of their investment in NYC real estate to the detriment of the people that live there.

Point is, it's all fun and games until it's not. And the quest to 'get Trump' at all costs has secondary consequences for NY by throwing the baby out with the bathwater.
shiftyandquick
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1. He misrepresented his assets (and not by a little bit) in order to get himself a better interest rate, in order to convey that the risk was less than it really was.
2. The better interest rate made a ton of money for him. I saw one source that said it was more than $170 million in his pocket.
3. The misrepresentation of his assets was a crime (against the law).
4. The penalty handed out by the judge was for "disgorgement" of his ill-gotten gains, i.e. how much money he made + interest (+penalty?).

Anything I am missing?
VegasAg86
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AG
shiftyandquick said:

1. He misrepresented his assets (and not by a little bit) in order to get himself a better interest rate, in order to convey that the risk was less than it really was.
2. The better interest rate made a ton of money for him. I saw one source that said it was more than $170 million in his pocket.
3. The misrepresentation of his assets was a crime (against the law).
4. The penalty handed out by the judge was for "disgorgement" of his ill-gotten gains, i.e. how much money he made + interest (+penalty?).

Anything I am missing?


You're missing that every bank that testified said #1 (better interest rates) didn't happen. They all made their own valuations and didn't rely on Trump's.

Edit to add: Remember, the findings in this case were made by a judge who valued Mar-a-lago at $18 million.
fredfredunderscorefred
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AG
shiftyandquick said:

1. He misrepresented his assets (and not by a little bit) in order to get himself a better interest rate, in order to convey that the risk was less than it really was.
2. The better interest rate made a ton of money for him. I saw one source that said it was more than $170 million in his pocket.
3. The misrepresentation of his assets was a crime (against the law).
4. The penalty handed out by the judge was for "disgorgement" of his ill-gotten gains, i.e. how much money he made + interest (+penalty?).

Anything I am missing?


Remember all those people repeatedly pointing out that reliance is not an element? They had to do that in party because #1-2 never happened. So you're missing that part.
Stat Monitor Repairman
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shiftyandquick said:

1. He misrepresented his assets (and not by a little bit) in order to get himself a better interest rate, in order to convey that the risk was less than it really was.
2. The better interest rate made a ton of money for him. I saw one source that said it was more than $170 million in his pocket.
3. The misrepresentation of his assets was a crime (against the law).
4. The penalty handed out by the judge was for "disgorgement" of his ill-gotten gains, i.e. how much money he made + interest (+penalty?).

Anything I am missing?
1. The due diligence in this private transaction is the responsibility of the lender. When you at that level you dealing with the smartest people in the world so far as risk assessment, and those people were satisfied with what they saw from Trump.

2. This is the same as 'jobs saved or created.' By not paying more money than he needed to, Trump made $170 million and the argument that those gains were an i'll gotten windfall doesn't hold water. For example, this is the same as buying a tradeline to boost your credit score 10-points to get a slightly better rate on your mortgage that will save you 10s of thousands over the course of the loan. Same concept, and most people on here have done this, the only difference is that aren't named Trump.

3. Conceded on that, but you also got to acknowledge that the business world operates on that basis of getting an asset, a loan on that asset on the most favorable terms possible, rinse and repeat. No one can deny that reality of finance and that is not NY, that's globally.

4. On disgorgement of ill gotten gains, that dog don't hunt either If this was the case the money would be returned to the banks as restitution. Is the money being returned to the banks as restitution, or is the fine being put into the NY general fund to ffinance further lawfare against Trump?
agAngeldad
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A similar process happens when you have 10-20 rental properties and continue to borrow money against your properties to buy more. Give the bank a value of property and show it is under a two year rental agreement. Bank agrees to the amount amd you buy another property with no money down.
Diff is pennies vs millions.

The owner of 20 rental properties could never produce enough cash to pay for any one property but he continues to show a net worth of 20 properties.
Stat Monitor Repairman
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Leticia wants to seize Trump's property and get it OFF the local tax rolls as soon as possible, shifting the burden to other taxpaying property owners' to make up the difference.

Will investors jump at the chance to buy Trump's property in a quagmire of legal limbo, or will Trump's property sit vacant for years until it can be sold and put back on the tax rolls?

This is the same economic problem they ran into when they jumped at the chance to seize the yachts and aircraft of Russian ogliarchs with the long term financial consequences falling on the local taxpayer.

In any event, this is what happens when you put the dumbest people alive in leadership positions. We are looking a Lord of the Flies level hysteria with the pursuit of Trump with March 25th the date set to break Piggy's glasses.
aggiehawg
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AG
Well, at least she's making a case for Trump to file for emergency relief from a federal court to stop her with an injunction. The irreparable harm will happen and is not conjecture here.
TexAg1987
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Hope she gets to the buildings before he loads them up on a trailer and moves them to Florida.


Reality Check
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Opalka said:

CSTXAg92 said:

1) He shouldn't pay
2) If does pay anything, he should pay her lyin' ass in pennies
He doesn't actually pay HER, personally. Let's not forget that a jury decided Trump's guilt, not the judge.
Let's not forget that a jury decided O.J. was not guilty, not the judge.
Author of the TexAgs Post of The Day - May 31, 2024

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aggiehawg
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AG
Stop talking about juries. There was no jury in this case because the law didn't allow for one. Bench trial only.
Antoninus
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aggiehawg said:

Stop talking about juries. There was no jury in this case because the law didn't allow for one. Bench trial only.
Keep fighting the good fight, Hawg, but these folks don't care about the facts. Interferes with the self-pity party.
VegasAg86
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AG
Antoninus said:

aggiehawg said:

Stop talking about juries. There was no jury in this case because the law didn't allow for one. Bench trial only.
Keep fighting the good fight, Hawg, but these folks don't care about the facts. Interferes with the self-pity party.
The jury claim was made by a leftist who is celebrating the decision, no self-pity involved.
Old Army Metal
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AG

Antoninus
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There, there ....
 
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