Negotiations were underway to post a $557 million bond when an appeals court reduced the bond, according to one of the participants, billionaire Don Hankey.

cross-posted from: https://lemm.ee/post/28524884

Looks like it actually was possible to bond the whole amount.

Don Hankey, the billionaire chairman of Knight Insurance Group, told NBC News he was negotiating to post a far heftier bond of $557 million with the Trump Organization when the state Appellate Division lowered the size of the required bond to $175 million.

  • @[email protected]English
    7•5 months ago

    He only got it lowered because his lawyers stated there was no way he could pay the full amount to appeal and that no one would provide a loan, then he went around stating the opposite saying he had the cash and now we find out he was negotiating for a far more substantial loan for the full amount before it was lowered! I hope his bones escape.

  • @[email protected]English
    2•5 months ago

    I suppose you don’t know how much you can pay until you know how much you can scrounge.