“Donald Trump is at risk of losing the New York real estate empire that the rest of his career was built on,” Axios reports.
“Forcibly dismantling Trump’s company is so unusual that no one is quite certain how it would play out.”
Key takeaway: “If the business certificates were canceled, the relevant assets — which include Trump Tower, Trump Park Avenue, 40 Wall Street, and Trump National Golf Course Hudson Valley — would be put under the control of a court-appointed receiver, who operates much like an executor of an estate.”
“The receiver would continue to manage the properties, but also could be allowed by the court to sell some — particularly if cash was needed to pay off legal penalties or creditors.”
Save to Favorites