BREAKING: NY Court of Appeals dropped Trump's bond ... (conspiracy, economy, state)
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No one has ever had to post a bond that high and very few companies are legally authorized to even issue such a bond of that amount. Trump's wealth is mostly invested in real estate properties and not liquid cashflow.
He posted the other day he has $500M in cash. One would think he'd have no problem getting a bond or even paying the amount himself ($175M to start the appeal). Then, in a couple months, the appeals court will give him more grace and lower his total damages. The bond, as it stands now, is about 36% of the original amount.
He posted the other day he has $500M in cash. One would think he'd have no problem getting a bond or even paying the amount himself ($175M to start the appeal).
His hapless supporters have been paying his legal fees. As long as he can string them along, he won't need to spend his own money.
The reduced bond and 10 extra days will allow him to gather together the $$$$$, be it a bond, a loan or gift from a friend, or from his own coffers. The appeals court signaled they'll give him grace, and they probably will on his appeal of the damages, not only on the bond amount.
WHAT damages? There were no damages. Trump repaid the loans per the loan contracts. That was the banks' testimony at trial.
They lowered the bond toward the judgment. The judgment still stands at $454 million pending appeal.
Sure, but I don't think any serious person believes that ridiculous judgement will survive the total appeals process.... it's why they set such an excessively high bail in the first place.
The left is very upset, they were hoping Trump was going to declare bankruptcy or be in prison my now. I guess his lawyers aren’t so bad after all.
This shouldn't be happening in the first place. You can kick an old lady down a flight of stairs and walk. You've got essentially a victimless crime of minor stature and he's got to pony up millions upon millions for a bond.
This country has taken a few very dangerous turns that can't be unrung so to speak. We're on the path to full blown banana republic here and you've got half the country cheering it on.
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Quote:
Originally Posted by shellymdnv
If I understand this correctly, they only lowered the amount he needed to pay to stay the collection of the judgement. While there is still the appeal process to go through, he may still have to pay the total judgement. It seems that all this did was acknowledge that he may not be liquid enough to post the full amount.
I'm ok with that, and it's reasonable. He got lucky that they didn't take his statement last week that he had it, he just didn't want to spend it on the bond.
I'm sure they'd heard that statement, so obviously "all this did was acknowledge" that the original amount was insanely overboard.
I'm sure those justices are getting an insane amount of death threats due to this. And most likely those on the left are trying to figure out a way to unseat them.
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