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LMAO, he's really going to have them seize his shit and sell it for pennies on the dollar to keep up the ruse that he's being unjustly persecuted.
TL;DR: Trump can't put up Real Estate as collateral since all the Bond companies he's contacted would want to perform an appraisal, which would just confirm the original fraud conviction.
https://lawandcrime.com/high-profile/no-documentary-evidence-supports-trumps-claim-it-is-impossible-to-secure-bond-for-464-million-civil-fraud-penalty-ny-attorney-general/
Prosecutors working under New York Attorney General Letitia James on Wednesday urged a court to reject Donald Trump‘s claims that he cannot find a private insurer to guarantee the staggering $464 million bond he must pay after he was found liable for civil fraud in the Empire State.
Trump made that argument, as Law&Crime previously reported, in a gargantuan filing on Monday to the Supreme Court of the State of New York Appellate Division, saying the amount plus interest made it a “practical impossibility” to obtain.
The very few companies who may be willing to insure the bond would only do so with cash as collateral, not real estate, he argued.
But senior assistant solicitor general Dennis Fan contends that’s not remotely the case and that despite Trump’s filing spanning nearly 5,000 pages, the “defendants supply no documentary evidence that demonstrates precisely what real property they offered to sureties, on what terms that property was offered, or precisely why the sureties were unwilling to accept the assets.”
Fan’s letter continued: “As far as the Court can infer, sureties may have refused to accept defendants’ specific holdings as collateral because using Mr. Trump’s real estate will generally need “a property appraisal’ … and his holdings are not nearly as valuable as defendants claim.”
TL;DR: Trump can't put up Real Estate as collateral since all the Bond companies he's contacted would want to perform an appraisal, which would just confirm the original fraud conviction.
https://lawandcrime.com/high-profile/no-documentary-evidence-supports-trumps-claim-it-is-impossible-to-secure-bond-for-464-million-civil-fraud-penalty-ny-attorney-general/
Prosecutors working under New York Attorney General Letitia James on Wednesday urged a court to reject Donald Trump‘s claims that he cannot find a private insurer to guarantee the staggering $464 million bond he must pay after he was found liable for civil fraud in the Empire State.
Trump made that argument, as Law&Crime previously reported, in a gargantuan filing on Monday to the Supreme Court of the State of New York Appellate Division, saying the amount plus interest made it a “practical impossibility” to obtain.
The very few companies who may be willing to insure the bond would only do so with cash as collateral, not real estate, he argued.
But senior assistant solicitor general Dennis Fan contends that’s not remotely the case and that despite Trump’s filing spanning nearly 5,000 pages, the “defendants supply no documentary evidence that demonstrates precisely what real property they offered to sureties, on what terms that property was offered, or precisely why the sureties were unwilling to accept the assets.”
Fan’s letter continued: “As far as the Court can infer, sureties may have refused to accept defendants’ specific holdings as collateral because using Mr. Trump’s real estate will generally need “a property appraisal’ … and his holdings are not nearly as valuable as defendants claim.”
