In a normal civil case once judgment has entered you receive an execution, which allows you to seize property in the state.
In order to seize property in another state you would have to domesticate the judgment in the new state, then get an execution from that state to seize property. Domestication of a judgment is typically straightforward and simple, but it depends upon the state, some are more arduous than others.
Ianal - but I believe you can’t get a re-trial if you don’t submit the money or a bond. So somebody is going to pay it, even if they have to use rubles or diamonds
It depends on the jurisdiction. In some there is some judicial discretion. I saw a case where the amount was 111.1%. I am not admitted in New York and am too lazy to look up their rules. Usually the amount is enough to pay the whole judgment plus all costs (which shouldn’t be a very high percentage of such a huge judgment, lol).
One of my clients deposited the judgment amount plus court ordered costs in cash in an escrow account of the Court pending the appeal. The prevailing party received the judgment plus the interest the deposit earned (like an IOLTA).
its like the cherry on top
That’s about $1.25 per second.
Wait $1.25 or $0.125?
My cynicism took over my math center and I thought he was getting away with something. Edited.
A buck and a quarter a second is seriously huge money. Dude’s fucked and I’m loving it.
First one then t’other.
More money he doesn’t pay
Letitia James just said the other day she’ll seize his real estate if she has to
You’ll have to Lysol the crap out of those buildings. Blegh!
im curious to know what happens when he doesnt pay. can they go after all assets, including those not in new york?
To my knowledge, New York can seize assets in NY and lien everything else.
I could be wrong tho.
In a normal civil case once judgment has entered you receive an execution, which allows you to seize property in the state.
In order to seize property in another state you would have to domesticate the judgment in the new state, then get an execution from that state to seize property. Domestication of a judgment is typically straightforward and simple, but it depends upon the state, some are more arduous than others.
https://people.com/letitia-james-prepared-seize-donald-trump-buildings-fraud-case-8598023
Ianal - but I believe you can’t get a re-trial if you don’t submit the money or a bond. So somebody is going to pay it, even if they have to use rubles or diamonds
its the appeal process that cannot begin until theres some bond posted thats a decent percentage, if not all of it. plus interest.
It is 125% of the total judgement.
It depends on the jurisdiction. In some there is some judicial discretion. I saw a case where the amount was 111.1%. I am not admitted in New York and am too lazy to look up their rules. Usually the amount is enough to pay the whole judgment plus all costs (which shouldn’t be a very high percentage of such a huge judgment, lol).
One of my clients deposited the judgment amount plus court ordered costs in cash in an escrow account of the Court pending the appeal. The prevailing party received the judgment plus the interest the deposit earned (like an IOLTA).
Michael Popok from Meidas Touch said it was 125% in NY. That’s where I got that figure from. I find him to generally be pretty reliable.
It can be reduced, but there is no good reason to do so here.
NY doesn’t care.
Ms. James has already said that NY will seize his buildings one by one and auction them off until the debt is paid.
Gonna need to sell a helluva lot more gold sneakers! Bigly!