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An appeals court reduced the bond Donald Trump must pay to delay the enforcement of a New York civil fraud case during his appeal from $454 million to $175 million, which he must secure within 10 days. Under New York law, someone can delay collection during an appeal by posting a bond or otherwise guaranteeing payment if they lose the appeal. Companies offer appeal bonds for a fee, requiring collateral like cash or investments to secure the bond amount. If Trump loses the appeal, the bond or collateral would be used to pay what he owes; if he wins, it would be returned. His stock in a new social media company could net billions if gains hold, but he can't sell for 6 months due to lock-up rules.
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BlackBeltBarrister
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David Jaroszewski
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Donald Trump is facing a cash crunch. He admitted in a court filing on Monday that he does not have enough cash and cannot secure a bond to cover the more than $457 million he owes to New York state after being found liable in a civil fraud case. And his team has reportedly not ruled out declaring bankruptcy via certain entities.<br/><br/>If any of Trump’s companies were to declare bankruptcy, it seems most likely that it would be one tied to 40 Wall Street, his troubled skyscraper in downtown Manhattan. The building looks glamorous–ascending 63 stories above the Financial District, with a copper crown on top–but its finances are not pretty. That fact may not have been clear to New York Attorney General Letitia James when she spoke with ABC News in February about preparing to seize Trump’s assets if he didn’t pay in full. “I look at 40 Wall Street each and every day,” James reportedly said, of the building Trump has run since 1995.<br/><br/>The former president’s debt at the property totals roughly $120 million, and the loan matures in 2025. That means Trump will need to find a new lender or come up with the cash to pay it off at some point next year, shortly after he figures out some way to get his hands on the roughly $540 million he owes in fines and interest resulting from three civil lawsuits.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/zacheverson/2024/03/21/heres-the-trump-building-most-likely-to-go-bankrupt/?sh=754e65d13e04<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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TorHoerman Law
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Studicata
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A New York appeals court ruled that Donald Trump does not need to post the full $464 million bond to appeal the judgment against him in his civil fraud trial, lowering the amount to $175 million. The appeals court stayed much of the lower court's judgment, including financial penalties and bans against Trump and associates from certain business activities. If Trump does not post the reduced $175 million bond within 10 days, he risks losing his ability to appeal the original trial ruling. The New York Attorney General's office maintains that Trump is responsible for the $464 million judgment from the initial trial, which Trump decries as \
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Syracuse University College of Law
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National Civil Rights Alliance
⏲ 6 minutes 43 seconds 👁 62.8K
Britain risks \
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Legal Briefs
⏲ 8 minutes 42 seconds 👁 5.4K
Travis Everette
⏲ 1 hour 13 minutes 57 seconds 👁 53.9K
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