Now that he’s on the hook for over $450 million in fines, failed former president Donald Trump is facing one of three options when it comes to raising the cash he needs: Sell properties, find a wealthy benefactor who will pay the tab for him, or wind up having to file bankruptcy.
That’s the bottom line, according to attorney and NBC legal analyst Lisa Rubin, who told MSNBC host Alex Wagner, “It could also prompt him to file for personal bankruptcy because, again, in this order, Donald Trump and the business entities that were found liable, are jointly and severally liable. That means that any one of them can be liable for the whole of the judgment attributed to them and that also means that Donald Trump can’t escape this just by plunging those business entities themselves into bankruptcy, because that would leave him individually on the hook for the totality of it.”
“The only way to escape it altogether would be to file for personal bankruptcy, which would place an automatic stay on further litigation, including judgment execution,” Rubin added.
Rubin also noted that Trump can’t borrow his way out of judgments against him because he’s also banned from obtaining loans from any financial institution chartered in New York.
The shame of filing personal bankruptcy would be the perfect karma for Donald Trump.
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