How will an appeal affect Trump’s penalty?
pay his penalty and mount- ing interest.
How much he has isn’t clear because most informa- tion about Trump’s finances comes from Trump himself via his government disclo- sures and the annual finan- cial statements that Engoron has deemed fraudulent.
Trump reported having about $294 million in cash or cash equivalents on his most recent annual finan- cial statement for the fiscal year ending June 30, 2021.
After that, according to state lawyers, he added about $186.8 million from selling the lease on his Wash- ington hotel in May 2022 and the rights to manage a New York City golf course in June 2023. Part of Trump’s pen- alty requires that he give those proceeds to the state, plus interest.
Engoron’s decision last week spared Trump’s real estate empire from what the Republican front-run- ner deemed the “corporate death penalty,” reversing a prior ruling and opting to leave his company in business, albeit with severe restrictions including oversight from a court-appointed monitor.
With Trump promising to appeal, it’s unlikely he’ll have to pay the penalty — or face the prospect of having some of his assets seized — for a while. If he wins, he might not have to pay anything.
Under state law, Trump will receive an automatic stay if he puts up money, assets or an appeal bond covering the amount he owes. A stay is a legal mechanism halting enforcement of a court decision while the appeals process plays out.
“Even if we choose to appeal this – which we will – we have to post the bond, which is the full amount and some, and we will be prepared to do that,” Trump lawyer Alina Habba told Fox News on Monday.
Trump’s lawyers can also ask the appeals court to grant a stay without obtaining a bond or with a bond for a lower amount.
In his Georgia election interference criminal case, Trump paid $20,000 — or 10% — for a $200,000 release bond. After losing at a first trial involving Carroll last year, Trump put $5.55 million in escrow to cover the cost of the judgment while he appeals. He has said he would appeal the $83.3 million January verdict but has yet to do so.
“If he can’t post a bond or meet the appellate division’s bonding requirements, then I would expect him to file bankruptcy to take advantage of the automatic stay on collection,” Germain said.