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Trump could learn Monday how NY wants to collect $457M owed in his civil fraud case

Trump could learn Monday how NY wants to collect $457M owed in his civil fraud case

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Trump could learn Monday how NY wants to collect $457M owed in his civil fraud case

 Former President Donald Trump could find out Monday how New York state aims to collect over $457 million he owes in his civil business fraud case, even as he appeals the verdict that led to the gargantuan debt.

After state Attorney General Letitia James won the judgment, she didn’t seek to enforce it during a legal time-out for Trump to ask an appeals court for a reprieve from paying up.

That period ends Monday, though James could decide to allow Trump more time. The presumptive Republican presidential nominee has been trying to avoid having to post a bond for the entire sum in order to hold off collection while he appeals, but courts so far have said no.

James, a Democrat, told ABC News last month that if Trump doesn’t have the money to pay, she would seek to seize his assets and was “prepared to make sure that the judgment is paid.”

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She didn’t detail the process or specify what holdings she meant, and her office has declined more recently to discuss its plans. Meanwhile, it has filed notice of the judgment, a technical step toward potentially moving to collect.

Seizing assets is a common legal option when someone doesn’t have the cash to pay a civil court penalty. In Trump’s case, potential targets could include such properties as his Trump Tower penthouse, aircraft, Wall Street office building or golf courses.

The attorney general also could go after his bank and investment accounts. Trump maintained on social media Friday that he has almost $500 million in cash but intends to use much of it on his presidential run. He has accused James and New York state Judge Arthur Engoron, both Democrats, of seeking “to take the cash away so I can’t use it on the campaign.”

One possibility would be for James’ office to go through a legal process to have local law enforcement seize properties, then seek to sell them off. But that’s a complicated prospect in Trump’s case, notes Stewart Sterk, a real estate law professor at Cardozo School of Law.

“Finding buyers for assets of this magnitude is something that doesn’t happen overnight,” he said, noting that at any ordinary auction, “the chances that people are going to be able to bid up to the true value of the property is pretty slim.”

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Trump’s debt stems from a months-long civil trial last fall over the state’s allegations that he, his company and top executives vastly puffed up his wealth on financial statements, conning bankers and insurers who did business with him. The statements valued his penthouse for years as though it were nearly three times its actual size, for example.

Trump and his co-defendants denied any wrongdoing, saying the statements actually lowballed his fortune, came with disclaimers and weren’t taken at face value by the institutions that lent to or insured him. The penthouse discrepancy, he said, was simply a mistake made by subordinates.

Engoron sided with the attorney general and ordered Trump to pay $355 million, plus interest that grows daily. Some co-defendants, including his sons and company executive vice presidents, Donald Trump Jr. and Eric Trump, were ordered to pay far smaller amounts.

Under New York law, filing an appeal generally doesn’t hold off enforcement of a judgment. But there’s an automatic pause if the person or entity posts a bond that covers what’s owed.

The ex-president’s lawyers have said it’s impossible for him to do that. They said underwriters wanted 120% of the judgment and wouldn’t accept real estate as collateral. That would mean tying up over $557 million in cash, stocks and other liquid assets, and Trump’s company needs some left over to run the business, his attorneys have said.

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Trump’s attorneys have asked an appeals court to freeze collection without his posting a bond. The attorney general’s office has objected. 

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Estonia summons Russian embassy chief over GPS jamming

Estonia summons Russian embassy chief over GPS jamming

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Estonia summons Russian embassy chief over GPS jamming

Estonia’s foreign ministry has summoned the head of the Russian embassy in Tallinn to protest the jamming of GPS signals, the Baltic country said on Wednesday.

Estonia accuses neighbouring Russia of violating international regulations by disturbing GPS navigation in airspace above the Baltic states, echoing concerns from airlines that say they have contended with such interference for months.

The Estonian foreign ministry on Wednesday summoned Russia’s charge d’affaires to convey its message. Moscow and Tallinn last year expelled each other’s ambassadors as relations deteriorated in the wake of Moscow’s full-scale invasion of Ukraine in 2022.

“Jamming the GPS signal is an element of Russia’s hybrid activities, disrupting everyday life and threatening the security of allies,” Estonian Foreign Minister Margus Tsahkna said in a statement.

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Russia’s foreign ministry did not immediately respond to a request for comment.

GPS, short for Global Positioning System, is a network of satellites and receiving devices used for positioning, navigation and timing on Earth in everything from ships and planes to cars.

The jamming of GPS signals can be disruptive to commercial airliners but they can usually navigate by other means.

Finnish carrier Finnair last month said it would pause all flights to Tartu in Estonia to allow the local airport to upgrade its navigation system, which has so far relied only on GPS.

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Australia boosts funds to Taiwan-ally Tuvalu amid Pacific contest for influence with China

Australia boosts funds to Taiwan-ally Tuvalu amid Pacific contest for influence with China

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Australia boosts funds to Taiwan-ally Tuvalu amid Pacific contest for influence with China

Australia will quadruple its financial assistance to Tuvalu, a Pacific Island nation at risk from rising seas, to cement a landmark climate migration and security deal as China also courts small island states.

On a visit to Tuvalu, foreign minister Penny Wong said on Wednesday evening Australia has committed A$110 million ($72.27 million) in its national budget to Tuvalu.

The sum includes A$50 million ($32.85 million) to build the first undersea cable connecting the island’s residents to global telecommunications services, and A$19 million for a land reclamation project to fortify Tuvalu’s coastline from rising seas.

Another A$15 million will be spent on a national security coordination centre, as well as A$10 million in direct budget support.

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The funding is a significant boost on the A$17 million ($11.17 million) Australia provided to Tuvalu in 2023-24.

China’s ambitions for a greater security presence in the Pacific became an election issue in Tuvalu in January, as two leadership contenders said Tuvalu should consider switching ties from Taiwan to Beijing for more funds, and revise a new security pact with Australia.

Neighbour Nauru cut ties with Taiwan a fortnight before Tuvalu’s vote, after China built a port and promised more aid.

Tuvalu’s new prime minister Feleti Teo pledged to stick with Taiwan, and to ratify the Falepili Union signed with Australia in November. The treaty allows Tuvalu citizens to migrate to Australia for work or study, while recognising Tuvalu continues to exist despite the rising sea levels.

“Australia has provided a security guarantee to support Tuvalu in a humanitarian disaster, a pandemic or the event of attack,” Wong said in a speech on Wednesday evening.

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“It is also the first time in history that two nations have agreed in a legally binding instrument that statehood endures in the face of sea level rise,” she added.

The treaty allows Australia to vet Tuvalu’s deals with third countries in a broad range of security areas from ports to telecommunications.

On Thursday, Wong and Teo are expected to say that the security cooperation does not limit Tuvalu’s ability to enter into diplomatic agreements with other nations, according to an advance copy of a joint statement viewed by Reuters.

“We recognise that the people of Tuvalu deserve the choice to live, study and work elsewhere, as climate change impacts intensify at home,” the text of the statement reads.

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Probe launched after Boeing cargo plane lands in Istanbul without front landing gear

Probe launched after Boeing cargo plane lands in Istanbul without front landing gear

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Probe launched after Boeing cargo plane lands in Istanbul without front landing gear

A FedEx Airlines Boeing cargo plane landed at Istanbul Airport on Wednesday without its front landing gear, a Turkish Transport Ministry official said, adding there were no casualties and authorities had launched an investigation.

The aircraft, flying from Paris Charles de Gaulle Airport, informed the control tower in Istanbul that its landing gear had failed to open and touched down with guidance from the tower, managing to remain on the runway, a ministry statement said.

Airport rescue and fire fighting teams were scrambled before landing, but no one was injured. The ministry gave no reason for the failure.

The aircraft involved is a nearly 10-year-old Boeing 767 freighter, one of the most common cargo planes and based on the 767 passenger model dating back to the 1980s.

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An official from Turkey’s transport ministry said its teams were conducting examinations at the scene as part of the ongoing investigation, but did not provide further details.

Boeing referred queries to FedEX, which said in a statement it was coordinating with investigation authorities and would “provide additional information as it is available”.

Video footage obtained by Reuters showed sparks flying and some smoke as the front of the plane scraped along the runway before coming to a halt and being doused with firefighting foam. No fire appeared to have broken out.

The video showed the pilots holding the plane’s nose above the runway for several seconds after the main wheels had touched the ground, apparently executing the emergency drill for landing with a retracted nose gear that pilots train for, according to the SKYbrary aviation database.

In June last year, a small 22-year-old Boeing 717 flown by Delta Airlines made a similar smooth landing without a nose gear in Charlotte, North Carolina, in an incident later blamed on a fractured component.

The runway was temporarily closed to air traffic, but other runways at Istanbul airport were still operating normally, the airport operator IGA said.

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Manufacturers are not typically involved in the operation or maintenance of jets once they enter service, but Boeing has been under intense media and regulatory scrutiny following a series of incidents on its smaller 737.

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