Trump's best escape from Letitia James may be too 'embarrassing' to take: CNN analyst
March 21, 2024
Former President Donald Trump is struggling to come up with a $464 million bond payment to appeal his New York fraud verdict, and CNN legal analyst Elie Honig on Thursday outlined some ways he could come up with the money or at least delay having to pay it.
During an analysis of Trump's current financial predicament, host John Berman asked Honig what Trump could do to get out handing over a massive sum of money to the state of New York.
"He's hoping or looking for any of two things to happen," said Honig. "First of all, Donald Trump has gone to the appellate division, the appeals court in New York, and has asked them to either delay the bond or reduce the amount. He writes in his brief that he has tried, he has tried 30 different companies, and he writes that posting a full bond here is a 'practical impossibility.' Now, the AG filed a response last night, they said, 'We disagree, he needs to try different ways to do it.'"
Honig said it was possible for an appeals court to give Trump relief in this matter, but such interventions are far from guaranteed.
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The CNN analyst then said that Trump could also get a "cash infusion" to give him enough money, which he said would be a private transaction that would at least initially be shielded from public scrutiny.
Honig finished by talking about a third option that would delay having to pay the bond: Declaring bankruptcy.
"Bankruptcy is a possibility," he said. "People need to understand it's not a magic wand that makes every debt go away. But it would buy him time. Because if he declares bankruptcy, whatever the political embarrassment, it would put a stay, a pause, on all this collection."
Honig said that he "wouldn't bank" on Trump taking this route, however, due to the aforementioned "political embarrassment" it would cause.
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