…Some coverage has suggested that a deal involving #Trump’s social-media company, Truth Social, could provide him an infusion of #cash, but the practical size of that windfall may be overstated. Major shareholders are subject to a provision that prevents large sales of stocks for 6 months, though Trump could seek a waiver allowing him to sell more sooner.

#law #civil #fraud #defamation #SexualAssault #liability #accountability #JustDeserts

Such existing #loans likely include covenants that prevent owners from subordinating them to other liens—which would effectively reduce how much #Trump can use the properties as collateral, says Jim Wheaton, a #law prof at William&Mary who has studied Trump’s #finances. In simple terms, if a building is worth $50M, & $30M of that is subject to another #loan, the covenant means the other $20M isn’t free & clear to use as #collateral.

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Typically, a defendant who has substantial #assets but needs piles of #cash will obtain a #bond, rather than posting the #money themselves. Under such an arrangement, a bonding company effectively vouches for #Trump w/the court, guaranteeing that the money is available. If Trump wins his #appeal, he pays the bonding company only a fee. If he loses, he has to pay in full. But Trump seems to be struggling to obtain such a bond.

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If this was true at the time, which is doubtful, it is not true now. On Feb 28, he asked an appellate court to reduce the #bond amount in the #fraud case to $100M, & said he might have to #sell properties otherwise. The court declined to lower the bond, but did temporarily stay the ruling by the trial judge, Arthur #Engoron, that #Trump couldn’t seek #loans from #banks.

#law #civil #defamation #SexualAssault #liability #accountability #JustDeserts