The judge denied Trump's request to delay finalizing the fraud order. In NY, a defendant must pay the amount owed within 30 days even if an appeal is filed.
The fact that Trump asked for a delay suggests he might expect to have difficulty coming up with the money.
Trump will have 30 days come up with $450 million in cash or post bond.
>>>Once the judgment is officially entered, it will start the 30-day clock for Trump to file an appeal. During that period, Trump will need to put up cash or post bond to cover the $355 million and roughly $100 million in interest he was ordered to pay the state.<<<
This is on top of the $83.3 million he needs to pay for the defamation case. The 30 day clock on that one started on February 8.
>>>A judge has officially registered the judgment in
E. Jean Carroll's defamation award against former President
Donald Trump—starting the clock on Trump's attempts to lower the $83.3 million awarded.<<<
Judge Lewis Kaplan entered the judgment on Thursday, February 8, which gives Trump 30 days to post a bond pending post-trial motions to have the award lowered.<<<
Trump must pay the full $83.3 million he owes Carroll or post a bond
www.newsweek.com
It's a lot to come up with in such a short period of time, and Trump is somewhat restricted because a judge is overseeing his business so he can't cook his books to pay the judgement based on his prior book cooking. Trump also can't get a loan from any business that does business in New York for three years.*
>>>As the Guardian US’s
Hugo Lowell reported on Monday: “Trump’s preference is to avoid using his own money while he appeals.” But to obtain a bond, Trump would have to find a company willing to do business with him and “would then have to pay a premium to the bond company and offer collateral, probably in the form of his most prized assets”, like his real estate holdings.
Trump is also hemmed in by the verdict’s restriction barring his company from applying for a loan from any firm that does business in New York for the next three years, potentially limiting his options to secure the money for that bond.<<<
The clock is ticking on a major financial decision following costly court losses that could threaten his prized real estate assets
www.theguardian.com
It will be interesting to see if Trump can do it. Even if he doesn't have the cash, I suspect he would be able to post bond, but given the risk, a financial institution would charge him out the wazoo.
*The court order actually says:
>>>The Court hereby enjoins Donald Trump and the Trump Organization and its affiliates from
applying for loans from any financial institution
chartered by or registered with the New York
State Department of Financial Services for a period of three years.<<<(emphasis added)
