Social Question

RedDeerGuy1's avatar

Will Donald Trumps three year business ban in New York interfere with him selling assets to pay for his fines?

Asked by RedDeerGuy1 (25012points) February 18th, 2024

When does the ban take effect?

Observing members: 0 Composing members: 0

2 Answers

elbanditoroso's avatar

A couple of points.

First, he (and Trump Org.) can’t do anything now without the approval of the court-appointed Master. So he and the family are pretty limited to much themselves. And the Master needs to weigh the interests of justice (I.e. the courts) versus the wealth of the Trumps. Who knows what she will decide…

Second, assuming that the Master OKs it – would he even want to sell any assets? They will ultimately make him poorer; reducing his net worth. What will that do to his ego? The real issue is that once you sell an asset, it’s gone. No going back to it and using it for collateral.

Third – what can he sell that isn’t already collateral for one loan or another? If he wanted to sell something, he would need to pay back the lender (Deutsche Bank) first. Would there be anything left over? Who knows?

Fourth – are the Trump kids wealthy enough to pay their own fines, or were they expecting daddy to do that?

elbanditoroso's avatar

Would Melania be a good temporary CEO? Would the courts allow it? (Doubtful)

Answer this question

Login

or

Join

to answer.
Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther