Honestly, this whole situation makes me think we need to restructure civil case outcomes to better protect the plaintiff. I’d like it if that $5M also had a nice interest rate of 100% or so, making this strategy a little less enticing.
The $5 million is earning interest at the “judicial interest rate”. Which is 4% (and tied to t-bonds) instead of 100%. That’s how the $5 million became $5.8 million during the appeal.
Trump was also probably required to post an appeal bond in cash or other security to cover the entire amount of the judgement plus expected interest. So when Caroll does finally get her money, the check is probably going to come from an escrow service or similar, not from Trump directly.
Honestly, this whole situation makes me think we need to restructure civil case outcomes to better protect the plaintiff. I’d like it if that $5M also had a nice interest rate of 100% or so, making this strategy a little less enticing.
Good news: we already did that! It’s called “tort reform” and it…
…oh.
The $5 million is earning interest at the “judicial interest rate”. Which is 4% (and tied to t-bonds) instead of 100%. That’s how the $5 million became $5.8 million during the appeal.
Trump was also probably required to post an appeal bond in cash or other security to cover the entire amount of the judgement plus expected interest. So when Caroll does finally get her money, the check is probably going to come from an escrow service or similar, not from Trump directly.
Which also makes this whole thing so much more petty, since he technically already paid the settlement; it’s no longer his money.