Podcast Summary
Trump Faces Potential Asset Seizure Over $500M in Judgments: Trump may lose assets worth over $500M due to unpaid judgments, with interest adding to the total each month, emphasizing the importance of meeting financial obligations.
Donald Trump is currently facing the potential seizure of his assets due to two substantial judgments against him, totaling over $500 million. The New York Attorney General and E. Jean Carroll's legal teams can pursue these assets because Trump has not posted bonds to halt enforcement of the judgments. These bonds would amount to over $500 million. With the judgments in place and no stays, the New York Attorney General can begin seizing assets by contacting a monitor and requesting a list of assets and account information. This process will continue until Trump posts a sufficient bond for both cases. The interest on these judgments is significant, adding millions to the total each month. The situation highlights Trump's financial vulnerability and the potential consequences of not meeting legal financial obligations.
Trump Loses $84.5 Million Lawsuit, Faces Asset Seizure: Trump lost a $84.5 million lawsuit to E Jean Carroll, and his team's failure to understand creditor rights could lead to further asset seizures.
Donald Trump and his legal team have lost a significant court case against E Jean Carroll, resulting in a $84.5 million judgment that is now enforceable. Trump's team has asked the judge to delay the enforcement and reduce the bond amount based on a legal concept called "remitter," but the judge has denied the request. This means that Carroll's legal team can now go after Trump's assets to collect the debt. The team of Alina Haba and Cliff Robert, who represented Trump at trial, are now facing criticism for their handling of the case and are advised to seek appellate counsel. In New York, once a judgment is issued without a stay, creditors can begin executing on the judgment. Trump's team's failure to understand these fundamental creditor rights could lead to further financial consequences as the automatic stay in the related federal case is about to pass.
Risks of Appealing a Judgment Without Posting a Bond: Appealing a judgment without posting a bond can lead to frozen assets, potentially causing financial loss. A healthier alternative is replacing bad habits with enjoyable ones using devices like Fume, an innovative flavored air device.
During legal disputes, appealing a judgment without posting a bond can put your assets at risk. If the appeal is successful, the collected funds must be returned, but in the meantime, they remain frozen. This is the situation Donald Trump finds himself in, potentially losing millions from frozen accounts. However, in a lighter note, another takeaway is the importance of making habits healthier and more enjoyable. Fume, an innovative flavored air device, offers an alternative to vaping or using electronic devices. It uses natural flavors instead of harmful chemicals and comes with adjustable airflow and movable parts for fidgeting. The first-time experience with Fume is flavorful and refreshing, making it an enjoyable way to replace bad habits.
Monitor appointed to oversee Trump assets: A monitor appointed by the court has access to and control over Trump's assets, making it easier for creditors to collect on judgments against him.
The assets of former President Donald Trump are under the control of a monitor appointed by the court, and this monitor has extensive knowledge and access to all of his assets. This includes bank account numbers, real property, and inventory, making it easier for creditors to collect on judgments against him. This situation contrasts with a "paper judgment," where collecting against the debtor's assets may be difficult or impossible. The monitor, former federal judge Barbara Jones, has been given robust powers and will be in place for at least three more years. This transparency and access to information make it a prime target for creditors like the New York attorney general and the lawyer for E Jean Carroll, trying to collect on her behalf.
Public reporting and transparency aid legal proceedings: Trump's financial records and assets could aid in collecting a judgment against him, while excessive punitive damages may not be overturned in appeal.
Transparency and public reporting make it easier for legal proceedings to be carried out effectively. In the case of Donald Trump, the public availability of his financial records and assets would make it straightforward for a lawyer to collect a judgment against him. If a defendant cannot post a bond, they may choose not to appeal, as their assets could be seized and they could face financial ruin during the appeals process. Trump's appeal, which centers around the argument that punitive damages are excessive, is unlikely to be successful, as the Supreme Court generally considers punitive damages to be between 1 and 4 times the amount of actual damages.
Trump's Assets Vulnerable to Seizure due to Insufficient Bonds: Donald Trump's failure to post sufficient bonds in ongoing legal cases leaves his assets vulnerable to seizure by judgment creditors, potentially leaving him in a precarious financial position during the appeals process.
In the ongoing legal battles against him, Donald Trump's inability to post sufficient bonds to stay the execution of judgments against him leaves his assets vulnerable to seizure by judgment creditors. This was evident in the E. Jean Carroll defamation case, where the jury awarded damages totaling $17.5 million, and the attorney general of New York is now pursuing assets in a separate case seeking $450 million. Trump's failure to post adequate bonds means that creditors can seize his assets during the appeals process, potentially leaving him in a precarious financial position. The amounts of bonds required are significant, with the attorney general's office reportedly targeting $22-$24 million in the Carroll case. Trump's refusal to post such large bonds, despite his reported wealth, could lead to a protracted legal battle over the return of seized assets or a stay of the case pending a bond hearing.
Trump's legal battles unlikely to reach federal courts: Trump's legal disputes with NY AG and E. Jean Carroll will primarily be resolved within the New York state legal system, with no immediate appeal to the US Supreme Court.
The legal battles surrounding Donald Trump, specifically the New York attorney general case and the defamation suit brought by E. Jean Carroll, are not likely to reach the federal courts or the US Supreme Court. Instead, they will be handled within the New York state legal system. Trump has already attempted to appeal the immunity issue in the Carroll case, but he will need to post a bond while doing so. The Midas Touch network will continue to follow these developments and provide updates on Wednesdays and Saturdays on their "legal AF" segment. Stay informed on the latest legal news by signing up for the Midas Touch newsletter at Midas touch dot com slash newsletter.
