Reply To: The Indictment

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September 28, 2023 at 9:06 am #1125703

I agree it won’t be the death of him but his business in NYC is kaput – here is a detailed article

They usually carry a ton of debt so there is a good chance that when their assets are revalued to their correct appraisal (the article provides example of extreme overvaluation of properties) the organization will be in the red. Like owing the Russians serious money.

From the article:

The judge’s order states that the certificates incorporating the company are cancelled and gives the parties ten days to name up to three independent receivers to manage dissolution of the cancelled LLCs. That will likely be put on hold while Trump appeals.

If such appeal fails those receivers will be responsible for selling off the assets of the Trump Organization and related entities. Proceeds will be used to pay any financial penalties, imposed resulting from this decision and the trial, and to pay the costs associated with dissolving the companies and their liabilities. If any remains, Trump can get that.