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this post was submitted on 25 Mar 2024
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politics
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This is the best summary I could come up with:
Trump’s lawyers had pleaded for a state appeals court to halt collection, claiming it was “a practical impossibility” to get an underwriter to sign off on a bond for such a large sum.
James, a Democrat, told ABC News last month that if Trump doesn’t have the money to pay, she would seek to seize his assets and was “prepared to make sure that the judgment is paid.”
As Trump arrived Monday at a different New York court for a separate hearing in his criminal hush money case, he didn’t respond to a journalist’s question about whether he’d obtained a bond.
“Finding buyers for assets of this magnitude is something that doesn’t happen overnight,” he said, noting that at any ordinary auction, “the chances that people are going to be able to bid up to the true value of the property is pretty slim.”
Trump’s debt stems from a monthslong civil trial last fall over the state’s allegations that he, his company and top executives vastly puffed up his wealth on financial statements, conning bankers and insurers who did business with him.
Trump and his co-defendants denied any wrongdoing, saying the statements actually lowballed his fortune, came with disclaimers and weren’t taken at face value by the institutions that lent to or insured him.
The original article contains 894 words, the summary contains 214 words. Saved 76%. I'm a bot and I'm open source!