Seems like a dumb question but what does “not allowed to do business in NY” mean? I don’t even really know what “business” the Trump Org does.
In this case I believe it means they won’t be able to sign contracts to do anything in NY or with anyone based in NY. It also means they can’t get loans from any bank that can operate in NY. I’m not sure who is going to be operating the company, but there will be at least 1 and possible 2 watchdogs from the court approving their actions.
Like Spyros in billions
So I assume the appeal comes down to the dice roll to see whether he gets a righty or a lefty judge?
Am I understanding the context right that in order to appeal he has to fork up the 300 million so they were asking for a stay so could appeal without paying?
400+ million (because of interest), but yeah that’s what i think.
He now has to come up with $450 million (or a $450 million bond) to appeal.
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It’s the New York Appellate Division First Department… There are no “righty” judges. Every one of them has been appointed by a democratic governor. It’ll be heard by a panel of judges, not one judge.
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You are understanding correctly, and it’s more like 540 million to get an appeal bond.
I’m amused that Engoron replied in under 8 minutes.
I’m amused that his clerk filed an unredacted copy to NYSCEF exposing everyone’s email addresses….
Edit: Or maybe one of the attorneys did that.
Heard the interest was 87k a day on his judgement…
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It’s 10 percent, so that actually sounds low.
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I heard 9% but it is going to be creeping closer to 100k every day.
Let’s assume he owes 600M total over the two judgements.
9% is 54M per year, so about a milly per week. Yowza.
The interest is calculated until he finally pays up completely?
That’s how interest works.
Guess I didn’t word that well, does the interest continue to accumulate during the appeal even after he puts the cash in escrow or whatever it is he has to do to appeal. Or does the interest stop during the appeal
Trump is going to make some 8th amendment fed appeal and not pay is my guess