SleePercellMar 14, 2024
Tomi T Ahonen

And our morning update from TomiAhonen Almanac

As Trump has clinched GOP nomination, I now declare that the window for when Trump might declare bankruptcy has opened. The first likely timing of his personal bankruptcy would be end of next week, just before Judge Engoron ruling $453M comes due

Mar 14, 2024 at 2:28pmWeb
Show threadOld Hippie Ⓥ Resistance!Mar 14, 2024
@tomiahonen Can he get out of any payments by declaring bankruptcy?
Show threadTomi T AhonenMar 14, 2024
@old_hippie all debt collection is paused while federal bankruptcy court sorts out the debts and arranges liquidation of all properties. taxes get paid first, court judgments go ahead of creditors. Banks and financial institutions usually ahead of most other debts. And all personal debts (like friends or loan sharks) are dismissed ie will not be paid at all
Show threadNazaniMar 14, 2024
@tomiahonen
Hey, Trump kids- If an asset transfer is made to avoid a known liability, a court may deem the transfer fraudulent and may reverse the transfer.
Show threadEvaMar 14, 2024
@tomiahonen he still has to pay he can sell his properties
Show threadTomi T AhonenMar 14, 2024
@littleEva Yes. Absolutely definitely yes. Trump will lose his appeal because $83 million was not 'too big' fine, because it ended up NOT deterring Trump from defaming E Jean Carroll again. That is in March 2025. So she gets paid by Chubb. She gets about $90.8 million more (on top of $5.4 million she gets now this summer from Trump first bond). Chubb holds collateral. They will be forces to sell it, to get the money. So absolutely definitely Trump lost SOME property last week. We don't know WHAT
Show threadTomi T AhonenMar 14, 2024
@littleEva Then the question becomes, while E Jean Carroll is sure to be paid. Chubb is sure to pay her. Trump is sure to lose at least $91 million dollars worth of property (and has to pay taxes on his sale, which is on top of that) - we do not know WHO gets the Trump property. Will Chubb get it, or if Trump declares bankruptcy before then, it likely does not go to Chubb, the bankruptcy court uses it to pay higher priority debts like haha.. taxes
Show threadGrumbleMar 14, 2024

@tomiahonen How much of Trump's financial dealings is he required to disclose as a presidential candidate? If Trump gets a major loan using his property as collateral, is he required to disclose the loan, the property, and the loaner?

I sort of expect Trump to try to monetize his Truth Social holdings given his equity stake and lack of cash.

Show threadTomi T AhonenMar 14, 2024
@grumble209 yes, everything. And Trump has broken these laws systematically as the oversight to campaign finance is a political quagmire, cannot get to majority rulings. That needs to be changed but currently Trump is getting away with not informing his voters of what all financial obligations he is under...