The news is by your side.

Trump will be able to wait to pay the full $83.3 million until all appeals have been exhausted

0

Donald J. Trump may one day have to pay E. Jean Carroll the $83.3 million she was awarded, but that day is not today.

Mr. Trump called the jury's decision “Absolutely ridiculous!” and vowed to appeal the verdict, a process that could take months or longer.

And while he awaits an appeals court ruling, Mr. Trump doesn't have to write Ms. Carroll a check.

Yet the former president still has to pay something — possibly a significant amount — while he waits.

Trump can pay the $83.3 million to the court, which will hold the money while the appeal is pending. This is what he did last year when a jury ordered him to pay Ms. Carroll $5.5 million in a related case.

Or Mr. Trump could try to secure a bond, which would avoid having to pay the full amount up front.

With a bond, he might have to make a down payment and offer collateral, and that would incur interest and fees. It would also require Trump to find a financial institution willing to lend him a large sum of money at a time when he is in significant legal danger.

Although Mr. Trump likes to brag about his billions, much of his wealth is tied to the value of his properties, and he is loathe to give away large sums of cash at once.

And when it comes to his various legal fees – of which there are many – he tries to avoid spending his own money in the first place. Mr. Trump has tapped the coffers of his political action committee to pay for his own legal fees and other costs arising from his criminal charges and civil suits.

Yet $83.3 million exceeds the amount in his political accounts. Friday's verdict will require Trump to reach into his own pocket.

But if the verdict survives Trump's appeals, Ms. Carroll should ultimately be paid, said Bruce Green, director of the Louis Stein Center for Law and Ethics at Fordham University.

“He is the rare defendant with an $83 million judgment against him who actually has the money,” Mr. Green said. “Wherever this ends up, she should be able to collect it.”

He has enough cash to cover the judgment in several accounts, a person close to him said. In recent years, Trump has emptied several properties, including his Washington hotel, which was sold for $375 million.

Still, Friday's verdict isn't the only payout for Trump. New York's attorney general is seeking a $370 million fine from the former president and his family business as part of a civil fraud lawsuit concluded this month.

It is expected that the judge will rule in this case in the coming weeks. If Mr. Trump is ordered to pay hundreds of millions of dollars, it is unclear whether he would have to sell another asset to make such a payment.

Claire Fahy reporting contributed.

Leave A Reply

Your email address will not be published.