No the $5M was to guarantee she gets paid from the first trial.
I think that we are saying the same thing. She doesn’t have that money yet.
But the point is, he doesn’t have it either. It’s held by a neutral third party, who will pay out without delay when this is finally settled. This is something Trump will have no control over, unless one of his hail Mary appeals actually works.
I seem to recall some commentators chuckling at the time that he actually paid CASH. George Conway was convinced he couldn’t get anyone to float him a bond at that time. I would imagine he’ll have even less luck with the 83.3 M.
I tend to agree.
A bond company would have to take into account:
- The likelyhood of the appeal being successful (very low I would imagine)
- The difficulty in collecting 83 million (plus interest) from the client in the event the appeal is unsuccessful.
I’m not sure how it works, but I think a bond company would have to pay Jean Carroll the 83 million immediately upon the final loss of all appeals. And then it would be up to this bond company to TRY to collect from Trump. Who would then stall them as long as possible, and pay as little as possible as is his modus operandi.
He’d probably blame the bond company for his loss of the appeal. He’s stupid that way.
Here is how I think it plays out.
Trump loses lawsuit and has to pay Jean Carroll $5 million.
Trump puts $5 million into a third party account (escrow) so that he can file an appeal without her collecting (yet).
Carroll cannot collect this $5 million until the appeal of this particular case is over, and appeals are all denied (up to the supreme court if it goes that far, which it won’t)
Then:
Trump loses second lawsuit and has to pay Jean Carroll $83 million.
Trump has 30 days from filing of the verdict (approx Feb 12??) to file an appeal. If he does not want Carroll to start collecting, he has to put $83 million in cash in a third party account (escrow) OR Trump has to find a bond company willing to guarantee an appeal bond in the full amount. IF he can find one that will take on the risk.
Carroll cannot collect this $83 million until the appeal of THIS particular case is over.
If Trump does NOT appeal this latest case, I don’t believe the $5 million from the first one (currently held in escrow) can be touched. It’s held by a third party, and must remain there until the appeal of this (first) case is done.
or if he doesn’t appeal at all then he doesn’t need to post any bond and the onus is on Carroll and her attorneys to chase down the money herself by placing liens and other methods of recovery.
Yes, exactly. If I were her in this event, I would sell the debt for 50 cents on the dollar to the meanest, nastiest, most cutthroat collection agency I could find.
Only problem with that is he has a secret service detail to intervene if Luigi tries to bust up his kneecaps.
They don’t actually bust anyone up.
Debt collector A - small man with thin mustache: “This mar-a-lago place you’ve got here is real nice.”
Debt collector B - large man with huge muscles: “Ya. Real nice”
A: “be a shame if anything were to happen to it.”
B: " a real shame."
A: “My brother here is really clumsy, ain’tcha?”
B: “Oops!” ( knocks vase off shelf, shattering it )
A: “We’ll be back next week for the cash”
B: (glaring) “Next. Week.”
One nitpick. The appeal isn’t all or nothing. The award could be reduced on appeal in which case Trump gets part of it back.
Is it possible for the value of the settlement to be increased on appeal? Probably not, but a man can dream.
Don’t forget Trump also just lost a case with a $350-450 million judgement (depending on interest payments).
I can’t imagine a bank covering him for all of this given his history. Maybe Trump has a billionaire friend in Russia who will help him.
I hope all the people who he owes money to sell off his property. Starting with the Trump Tower in Chicago.
Maybe if the plaintiff appeals? As for Trump it’s either keep it in place or something less than before.
I think that Trump genuinely believes that an appeal is a “Do-over” and he’s hoping to get a judge that likes him. And that he can simply keep getting do-overs forever.
Yes, he’s really that stupid.
He had an idiot lawyer for the Carroll cases - he might think he can claim ineffective advice of counsel, but because he’s stupid, he does not realize that only applies to criminal cases, not civil ones.
I wonder if he’ll get more idiot lawyers for the appeal (for the Carroll cases as well as for the recent NY State fraud judgement) Back on Jan 31, the stupid moron blurted out “I am in the process, along with my team, of interviewing various law firms to represent me in an Appeal”
What law firms would be this desperate that they’d take on a sure loser of a case, and in the process have to deal with a fucking self-sabotaging idiot who is likely to try to stiff you on the bill? Of course, they’d have the bonus of tanking their reputation, as Everything Trump Touches Turns To Shit.
One that got a million dollar cash retainer.
I suspect between this and the whole “how do I do this without putting up $84M+ in cash” is going to push the appeal filing until the very last second, if it happens at all.
Even that is not going to get you a top-tier law firm, as they will be more concerned with trashing their reputation.
Who said anything about top-tier? It will be another clown like Habba who doesn’t have a reputation at all. They can then continue to represent wealthy slime that no one else will touch.
If you mean the mortgagees, they can’t sell the property out from under him (failing default, of course, and that will never happen with such a stable genius in charge, right?). They can only sell their mortgage rights to some other financial institution.
If you mean judgment creditors, they can’t execute and force a sale ahead of the mortgagees (or other secured creditors).
Not meant as legal advice, just a comment on the general law of real estate security. IANAUSL, etc.