The ex-President actually got a Insurance company to pledge to pay the court if Donald Trump loses his appeal of the $450M judgement, with interest….
It IS assumed that Trump HAD to give the company, Knight Specialty Insurance Company, a California company, some sort of collateral to hold , especially given Trump record of several bankruptcies in the past…..
$450M is a LOT of money……
In addtion?
The judge in the case HAS upped the gag order against Trump, who is actually out on bail in a criminal trial and if he was anyone else?
Would BE IN JAIL for messing with judges staff and family….
This NOT a good day for ole Donald….
Former President Donald J. Trump averted a financial disaster on Monday, reaching a deal that will spare him from paying a $454 million judgment in his civil fraud case while he appeals the penalty.
The lifeline came in the form of a bond that will prevent New York’s attorney general, who brought the lawsuit that led to the judgment, from collecting the $454 million until Mr. Trump’s appeal is resolved. The attorney general, Letitia James, accused Mr. Trump of fraudulently inflating his net worth by as much as $2 billion, and a judge ruled in her favor.
Mr. Trump secured the bond after an appeals court last weekgranted his request to lower the bond amount, setting it at $175 million and staving off a financial crisis for Mr. Trump. He otherwise would have had to post a bond for the full $454 million, which his lawyers declared a “practical impossibility.” Had he failed to do so, Ms. James could have frozen his bank accounts.
The clock had been ticking. When the appeals court ruled last week, it gave him 10 days to line up the bond, making Thursday the deadline….
…
Many details of the deal are private, but the former president most likely had to pay the company a fee and pledge cash and other liquid investments as collateral.
It was the collateral that prevented Mr. Trump from securing a bond for the full $454 million. Although Mr. Trump measures his net worth in the billions, much of that is drawn from the value of real estate, which bond companies typically don’t accept as collateral. While Mr. Trump had more than $350 million in cash and other liquid investments as of early this year, a New York Times analysis found, that was short of what he needed to secure the bigger bond.
His lawyers, after being spurned by more than 30 bond companies, recently cited “insurmountable difficulties” in obtaining the full bond.
Even to secure the $175 million bond, Mr. Trump probably had to dig deep into his reserves.
The terms may be costly, but Mr. Trump had little choice….
Note….
Trump’s NY finances ARE under the inspection of a retired federal judge, who probably had to sign off on the judgement deal….
And there is ALSO the Gaga order in the Manhattan criminal case………
The New York judge overseeing Donald J. Trump’s criminal trial later this month expanded a gag order on Monday to bar the former president from attacking the judge’s family members, who in recent days have become the target of Mr. Trump’s abuse.
Justice Juan M. Merchan last week issued an order prohibiting Mr. Trump from attacking witnesses, prosecutors, jurors and court staff, as well as their relatives. That order, however, did not cover Justice Merchan himself or the Manhattan district attorney, Alvin L. Bragg, who brought the criminal case against the former president.
And although the ruling issued on Monday still does not apply to the judge or the district attorney, Justice Merchan, granting a request from Mr. Bragg’s office, amended the gag order so that it does now cover their families.
In his ruling, the judge cited recent attacks against his daughter, and rejected Mr. Trump’s argument that his statements were “core political speech.”
“This pattern of attacking family members of presiding jurists and attorneys assigned to his cases serves no legitimate purpose,” Justice Merchan wrote. “It merely injects fear in those assigned or called to participate in the proceedings, that not only they, but their family members as well, are ‘fair game’ for defendant’s vitriol.”….