My understanding is that it must be paid in 30 days or, if he wants to appeal it, put into a trust or something. Effectively, removing his access to the money until the appeal is resolved.
Trump has a few options in paying the court. He could pay up everything that he owes now in cash. Or he could try to get an appeal bond, meaning he wouldn’t have to pay all the cash up front in exchange for a premium and putting up collateral.
Trump could be required to deposit his portion of the full judgment plus interest during an appeal. Trump could also post a smaller amount with collateral and interest by securing a type of loan called an appeal bond. But he may have trouble finding a willing lender after Engoron found he lied to banks about his wealth.
My understanding is that the independent monitor that is tasked by the court to monitor Trump’s finances and assets would be able to make the payment with Trump’s assets. So basically, either Trump can make the payments himself or someone else will instead.
My understanding is that it must be paid in 30 days or, if he wants to appeal it, put into a trust or something. Effectively, removing his access to the money until the appeal is resolved.
Do you have a source on that? If true, that would be delicious.
I sadly can’t find tje article that mentioned the 30 days to pay. Regardless, in order to appeal he needs to provide the court money.
https://www.theguardian.com/us-news/2024/feb/16/how-will-trump-pay-trial-penalties
There’s this link: https://www.reuters.com/legal/judge-set-rule-trumps-370-million-civil-fraud-case-2024-02-16/
Relevant portion:
Deutsche Bank has entered the chat 😆
What happens if he doesn’t pay?
I really want him to pay, but his previous behaviour makes me think he just won’t.
And there’s a limit to what anyone else can do about that.
My understanding is that the independent monitor that is tasked by the court to monitor Trump’s finances and assets would be able to make the payment with Trump’s assets. So basically, either Trump can make the payments himself or someone else will instead.