Good point.
It would take genius, chutzpah, or both to find worthwhile value in that toxic morass.
Unless the buyers can succeed in buying very low because of that risk.
it’s a terrible investment if the goal is direct profit. It might be a good investment if the goal is buying influence. (Saudi Arabia, I’m looking at you.)
I don’t know much about business, but when the accountants have said that the books can’t be trusted, the interim court appointed manager says that the current owners have engaged in fraudulent statements of worth even while she’s been monitoring them, and the trial judge has concluded that there was massive fraud in valuations for years, well, how does a potential buyer know the value of a property they’re interested in?
Where would Ivanka get the money? To put it another way, how much of Ivanka Trump’s wealth is tied up in the very assets which are going to be sold? I assume she can’t buy Trump Tower, and pay for it with the proceeds from selling Trump Tower.
That raises an interesting question–to wit, where do the proceeds from the sales go? Are they paid out first to creditors and then to owners? Are they taken by the state? is there some other fate for them?
From Jared and Kushner Sr. But as I said, they wouldn’t buy it.
Gambling on Trump having future power worth influencing is pretty high risk at the moment, and getting to be a worse gamble by the day.
Trump’s not declared bankruptcy (yet), so he presumably would get the proceeds, net of amounts owing on the properties to secured creditors. But if the valuation of those properties was fraudulent, I could see lots of litigation by the secured creditors, to try to determine the exact value before anything gets paid to Trump.
If the AG is successful in getting an order at the upcoming trial in the magnitude she’s seeking ($250,000,000), then all bets are off, and there would likely be years of litigation to try to straighten it all out. Does the state of New York enforcing a civil penalty come ahead of secured creditors? What is the interaction between the NY civil penalty statute and NY secured creditor law? Manhattan lawyers will definitely come out ahead, even if no-one else does.
Just my guess; as I’ve said many times, I don’t know much about US law, just commenting based on general principles.
This article from last week has some insights, namely: nobody knows.
Generally when a Court sells an asset from a business, the receiver gets paid first, then secured creditors, then priority creditors (fines, taxes, etc.) then unsecured creditors, and if anything is left, it goes to the owner.
Yes, there is no possible way that doing that could bite him in the ass. 
Has Trump turned up in person for today’s proceedings, as he said he would? Or will he attend in two weeks’ time?
All the news I’ve seen today says YES. And he does not look happy.
https://www.axios.com/2023/10/02/trump-civil-trial-new-york-2024/
Oh, he’s there. And has already delivered an unwise and awful rant from the courthouse steps about how the judge is a “disgrace” and calling for harm to come to AG Letitia James.
In my mind’s eye, I see Jack Smith sharpening his pencil for the gag order hearing on the 16th. But of course, that doesn’t pertain to this case.
We got a repay of Trump’s greatest hits this morning as he was speaking to the press. We heard Letitia James is a racist, she failed in her bid for governor, this is the greatest witch hunt ever, the runaway judge devalued his property, etc., etc. While his statements weren’t surprising, he sounded so tired to me. Like a sad old man who knows he’s beat.
When the buildings are sold, that will establish their value. I don’t think that will be relevant, though; creditors will be paid back whatever they’re owed.
IF the sale price is above the amount still owing on the loan. So depends on how much the loans were too high based on the fake assessments.
Insulting the judge right before trial starts; It’s a bold strategy Cotton.
Depends on how much is still owed, too. Even if a loan was originally based on an inflated valuation, it may be possible to pay off the remaining amount by selling the asset.
I wonder if the full details of the fraud will be known. If Trump tripled the size of his apartment, I wouldn’t be surprised if he took out three loans on the same building.
In finance that wouldn’t even count as special or exotic.
Companies are routinely bought with money the loaned to the company.
Emphasis added:
Never change, Trump.