Bankruptcy is one way out of Trump's financial jam. He doesn't want to take it.
Washington Post
As Donald Trump faces dwindling options to pay off a massive fine imposed as a result of losing a fraud case in New York, financial experts say filing for bankruptcy would provide one clear way out of his financial jam.
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But Trump is not considering that approach, partially out of concern that it could damage his campaign to recapture the White House from President Biden in November, according to four people close to the former president, who spoke on the condition of anonymity to describe sensitive discussions about Trump’s finances. Even though bankruptcy could alleviate his immediate cash crunch, it also carries risks for a candidate who has marketed himself as a winning businessman — and whose greatest appeal to voters, some advisers say, is his financial success.
A bankruptcy filing by Trump personally or by one of his companies could delay for months or years the requirement that he pay the judgment of nearly half a billion dollars, which with interest is growing by more than $100,000 a day. A federal judge would be charged with the time-consuming task of determining how and when each of his creditors, including the state, would be paid. In the meantime, Trump could focus on his campaign and not the debt.
Trump does not have the cash to secure a bond that would delay enforcement of the $464 million judgment while he appeals, his lawyers say. No bonding company will accept real estate — which accounts for most of Trump’s wealth — as collateral. If no bond is posted by Monday, New York Attorney General Letitia James (D) could move to seize his assets, including bank accounts or properties such as Trump’s Manhattan office tower at 40 Wall Street.
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