[Unknown Member]

Trump’s lawyers admit he doesn’t have cash to pay $454 million verdict: ‘properties would likely need to be sold to raise capital’

A New York appeals court denied Donald Trump’s request to temporarily delay payment of the state’s $454 million verdict against him, even after the convicted rapist said he may be forced to sell properties to cover the judgment.

A judge rejected Trump’s offer to instead post a $100 million bond backed by some of his biggest assets while he appeals. That means Trump may soon have to post a bond of at least 110% of the judgment to keep it on hold while he appeals.

“In the absence of a stay on the terms herein outlined, properties would likely need to be sold to raise capital under exigent circumstances, and there would be no way to recover any property sold following a successful appeal and no means to recover the resulting financial losses,” Trump’s lawyers said in an appeals court filing.

For every day he doesn’t pay, The Florida Criminal Donald Trump said he’s facing $115,000 in accrued interest on the judgment, which is “beyond any permissible or constitutional scope of disgorgement.”

https://fortune.com/2024/02/28/donald-trump-cash-to-pay-verdict-would-have-to-sell-properties/

fortune.com

Trump's lawyers admit he doesn't have cash to pay $454 million verdict: 'properties would likely need to be sold to raise capital'

The Feb. 16 verdict by Justice Arthur Engoron found Trump inflated the value of his assets by billions of dollars for more than a decade.