Trump’s 'let’s make a deal' bid failed — but judge’s order may solve his money problem: legal expert
After former President Donald Trump asked a judge on Wednesday, February 28 if he could put up less than the $464 million he owes in his New York civil fraud trial ruling, he was denied the request. However, MSNBC legal correspondent Lisa Rubin explained to MSNBC host Chris Jansing Thursday why there could still be hope for the MAGA hopeful's financial problems.
"Yesterday you and I talked about how Trump wanted a $100 million bond instead of paying the whole thing," Jansing said, asking Rubin, "What exactly does the judge think about that?"
The legal expert replied, "The judge didn't think much about it, Chris, because Trump was essentially trying to play 'Let's Make A Deal' to a court of law that is charged with enforcing legal obligations. And New York state law is pretty particular. It says where you're ordered to pay a sum of money, you have to put up an undertaking in the sum of the amount you're ordered to pay, in order to secure a stay as you go through the appeals process. And so they're not going to allow Trump to circumvent that. At least not on an interim basis. Judge Anil Singh said, 'Yes, I will grant relief from a couple facets of this judgment, in particular, you can borrow money. Your sons can run the business right now. But I won't relieve you of the monetary obligation to secure a stay."
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"Which means what?" Jansing asked.
Rubin said, "Which means that unless and until a full panel of the New York appellate division — that's the first level of the appeals court here in New York state — relieves him from that obligation between March 18 and March 25. March 18 is when the briefing will be complete. March 25 is when the bond is due. That's what he'll have to pay. He'll have to pay all of it."
Jansing asked, "So we could start seeing potentially some of his properties going on the market? What are the options here? That seems like a lot of money that he doesn't seem to think or hasn't said he has."
The legal expert emphasized, "Well, yesterday's order may solve some of that problem for him. In allowing him to borrow from financial institutions that are registered or chartered with New York state, that opens up some avenues for Trump in terms of borrowing. He had complained to the judge yesterday that he wasn't able to secure a surety bond, in part, because of those restrictions on his borrowing. So we'll see, on or before March 25, if this loosens anything for Donald Trump, and allows him some financing that he says right now he doesn't otherwise have."
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