I don’t know. My only point was that assets that exist in a different state don’t automatically get a pass.
ETA: @Atamasama says it’s Trump. That’s good enough for me. 
Nah, just look in the boxes in the bathroom.
I only assume it is, I’ve read multiple articles and everything says he’s the owner, and nothing contradicts that. And note that everything reports that Palm Beach was dealing with Trump directly over disputes with Mar-A-Lago. If that ever changed I would expect there would be something reported about it, especially given all of the media scrutiny it has gone through in the past handful of years.
With just a cursory look …
- Mar-A-Lago appears to be owned by “MAR A LAGO CLUB INC”
- Mar-A-Lago Club Inc lists as officers:
- TRUMP, DONALD J. JR. - TREASURER, SECRETARY, VP
- TRUMP, DONALD J - PRESIDENT
- LIEBERMAN, RONALD - SECRETARY [NB: Lieberman is listed as “- Executive Vice President, Management & Development” or Trump Org, LLC]
No clear visibility into the corporate structure or beneficial ownership, so … hard to tell how many layers between the NY AG and Mar-A-Lago as a gettable asset, though.
SOURCES:
Fascinating. Thanks for that.
I don’t often want a “like” button but your post made me wish we had one.
Why can’t New York seize and sell that first trust at auction? Let the bidders decide what it’s worth, discounting for the cost of disentangling its assets.
I don’t know. Would depend on NY debt collection law with respect to trusts.
But then there’s the next step - who holds the 1% share in the first NJ company? Even if NY state acquires the trust and 99% of the first NJ company, as majority share-holder the trust has to respect the rights of that minority share-holder. Minority share-holders have legal protections against majority share-holder oppressive conduct. That may mean some sort of buy-out to the 1%. What’s the fair market value for the 1% share?
Then NY state has to move on to the second NJ company. Who owns the 1% share of that second company? Is another buy-out needed?
And so on.
And it sounds like this sort of web of corporate ownership is common for Trump and Trump Org, so multiply this sort of analysis for all major assets that have “Trump” on them.
I’m not saying the judgments can’t be enforced. Just that it doesn’t sound like a simple matter. But, that’s what NY law firms get paid big bucks to do.
No, NY does not need to, if they can sell the trust. If they can’t sell the trust, but can only take control, they can sell the 99% stake in the company. Then let the new majority owner deal with the minority owner.
The point being NY does not need to do the unraveling. They just need to get the fair-market value of Trump’s assets. If the value of those assets is discounted because of complex ownership structures, oh well, the state will seize more.
Sure, that may be an option. Can you seize a trust in NY? Dunno.
What are the terms of the trust? Does someone other than Donnie have an interest in the trust, either active or residual?
Showing my ignorance - is there any ability to bill for efforts to collect? I’m assuming not - which kinda sucks IMO.
In a filing with the Appellate Division, a mid-level appeals court, Trump’s lawyers said the “exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond.”
They said a $100 million bond, together with Trump’s “vast” real estate holdings and ongoing oversight by a court-designated monitor for the Trump Organization, would be more than sufficient to secure the judgment.
And of course:
Trump’s lawyers also sought to temporarily stay enforcement of the judgment during his appeal, saying he would suffer “irreparable harm” if James forced the sale of his real estate assets to raise capital.
So they’re asking that they only be required to post less than one-quarter of the bond, and also demand that the court not be allowed to secure the rest of the bond with Trump’s real estate holdings. So when they inevitably lose the appeal, they’ve saved their client 80% or more (after interest continues to accrue), because Trump will never repay the balance. And without the real estate collateral, it would be difficult to seize them after the fact.
I would hope for a brief response from the court:
“No.”
Game show host not really billionaire shocker!
Also, perjured himself in the trial.
“I do not like the quality of this judgement so I’m not going to pay you the full amount”
It’s like he thinks he’s dealing with a company that installed window coverings in one of his buildings, and he’s trying to stiff them.
Breaking:
Preliminary tests on the powder came back negative, according to sources familiar with the matter. Additional tests are being done out of an abundance of caution.
The letter was received in the operations office of the downtown Manhattan courthouse, the sources said.
Two court officers were the only ones exposed to the substance, sources said, adding that the judge was never in any danger.
“Negative” for what is not said.
From the article:
James also said there was “substantial risk” that Trump might not pay up,
Possibly the greatest understatement ever recorded in a court document. There is more chance of Trump spontaneously metamorphosing into a unicorn who speaks Swahili than him paying up without the court forcing him to do so.
Good one!
I like how the lawyers complain that it is a “punitive amount.”
Um, yeah. That’s exactly the point.