First last nights Biden beatdown….
Along with his social media website crash…
Today giving up $91M….
The ex-President’s string of issues just keeps coming…
Wait to he see’s the post State of the Union polls….
Donald J. Trump on Friday posted a nearly $92 million bond in a defamation case he recently lost to the writer E. Jean Carroll, a move that will allow him to appeal the verdict without having to pay Ms. Carroll.
A federal jury awarded Ms. Carroll $83.3 million in January, and Mr. Trump recently asked that the judgment be paused. The judge presiding over the case, Lewis A. Kaplan, denied Mr. Trump’s request for a preliminary reprieve, putting pressure on Mr. Trump to either come up with the money himself or secure a bond from an outside company.
With a Monday deadline looming, Mr. Trump secured the $91.6 million bond, which is higher than the $83.3 million judgment because the former president is also responsible for interest.
The bond is a promise from the company offering it to cover Mr. Trump’s judgment if he loses his appeal and fails to pay. In exchange, Mr. Trump must pay the company a fee and pledge collateral, including as much cash as possible…
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In a separate case, Mr. Trump faces a judgment of more than $450 million levied by a New York State judge in a civil fraud lawsuit brought by Attorney General Letitia James. The judge, Arthur F. Engoron, sided with Ms. James, concluding that Mr. Trump had fraudulently inflated his net worth to reap favorable loan terms and other financial benefits.
Mr. Trump recently asked a state appeals court to accept only a $100 million bond in the civil fraud case. His lawyers said it would be “impossible” to obtain a bond for the full amount, which is $454 million and counting with interest.
A single appeals court judge turned down his request, but Mr. Trump can try again next month with a full panel of five appellate court judges.
Unless that panel cuts him a break, Mr. Trump will need to post a bond for the full amount by March 25. If he fails, Ms. James is expected to move swiftly to collect, seizing his bank accounts and potentially even some of his New York properties….
Note…
Chubb Insurance Company supplied the money in a sexual offender case….Chubb will require collateral from Trump…Trump appointed Chubb Group CEO Evan Greenberg to the Advisory Committee for Trade Policy and Negotiations in 201…..
My guess: Trump may have someone like Elon Musk co-signing the Chubb bond, so the bank is comfortable being on the hook for the judgment. Same could happen for the bond for the AG $450M judgment.,….
Andrew Weissmann@twitter
Trump Will Need a Lot More Than $540 Million
Forbes: “Even if the ex-president figures out how to pay his mounting legal fees, he’s still going to be scrambling for cash for years to come.”