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News@lemmy.worldEnglish · 8 months ago

New York AG asks court to reject Trump's $175M bond for civil judgment

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politics

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New York AG asks court to reject Trump's $175M bond for civil judgment

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 8 months ago

cross-posted to:
[email protected]
politics

Letitia James contended the former president failed to demonstrate that the company behind his bond had the resources to pay it if his appeal failed.

Letitia James contended the bond company may not have enough resources to pay.

Lawyers for the New York Attorney General asked Judge Arthur Engoron on Friday to reject former President Donald Trump’s $175 million bond for his civil judgment and require him to post a new one within seven days.

Letitia James contended that the former president failed to demonstrate that Knight Specialty Insurance Company, the company behind his bond, had the resources to pay the bond if Trump’s appeal failed.

…

In February, Engoron determined that Trump and his co-defendants engaged in a decade-long scheme to inflate the former president’s net worth to get better business deals and interest rates on loans.

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Corkyskog
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8 months ago
That doesn’t say they have to be a NY company, they just lack the correct licensing to issue in NY. Which seems problematic
- bradorsomething@ttrpg.network
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  8 months ago
  The surety question is the main issue. The language seems to say that if trump loses, he has to pay and they don’t. Which isn’t a bond.

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