[[{“value”:”According to reports, President Trump has been unable to secure an appeal bond amounting to at least$ 450 million in the New York civil business fraud case.
According to CNBC, Trump’s attorneys claimed it was “impossible” for them to obtain a full appeal bond in a court filing on Monday.
While he appeals the New York civil fraud judgment, Donald Trump is unable to secure a$ 454 million bond. According to Trump’s lawyers, it is difficult to post the whole bond after they spoke to 30 underwriters”, Collin Rugg writes.
” Defendants ‘ continued diligent efforts have proven that a bond in the judgment’s total amount is’ a sensible impossibility. According to the filing, these attentive efforts have included speaking with on 30 principal companies through 4 distinct brokers.
” Trump’s net worth is estimated to be about$ 2.6 billion and he claims he has about$ 400 million in cash”, Rugg added.
Donald Trump is unable to obtain a$ 454 million bond while he files an appeal of the New York civil fraud judgment.
According to Trump’s lawyers, it is difficult to post the whole bond after they spoke to 30 underwriters.
” Defendants ‘ ongoing diligent efforts have demonstrated that a… pic. twitter.com/SPVy3M3Xwd
— Collin Rugg (@CollinRugg ) March 18, 2024
CNBC reports:
According to the filing with the Appellate Division of Manhattan Supreme Court, Trump’s team has spent” many hours negotiating with one of the largest insurance companies in the world,” having unsuccessfully approached 30 principal companies through four distinct brokers.
Trump must file an appeal bond under New York court orders if he wants to stop Letitia James from attempting to collect on the state’s case for fraud.
If Trump is able to pay the full judgment or obtain an appeal bond, James has stated that she will seize the property.
Trump’s attorneys stated in their filing that oral arguments on the subject should be scheduled if the administrative division considers denying a stay of the judgment.
WATCH:
According to Donald Trump’s attorneys, the$ 464 million judgment in his New York civil fraud trial has not been secured. twitter.com/HhcVcFTul Q
— MSNBC ( @MSNBC ) March 18, 2024
” Enforcing an unattainable bond requirement as a condition of appeal would inflict develop irreparable injury on Defendants,” Trump’s attorneys wrote, according to Reuters.
Former US president Donald Trump has so far been unable to obtain a bond that would allow him to challenge a$ 464 million judgment against him in a civil fraud case in New York without posting the entire sum, according to his attorneys. MORE: https ://t.co/AVNRJg6whd pic. twitter.com/dVsbiBUnVd
— NEWSMAX ( @NEWSMAX ) March 18, 2024
Per Reuters:
Instead, the attorneys requested that he be permitted to file an appeal against the judgment and post a$ 100 million bond. If Trump loses his appeal and proves able to pay, a bonding company would be held responsible for any proceeds.
Trump’s lawyers included a statement by Gary Giulietti, an executive with insurance brokerage the Lockton Companies, which Trump has hired to help get a bond.
Given the circumstances, Giulietti wrote that” a bond for the full$ 464 million” is not feasible, noting that many sureties would not issue bonds exceeding$ 100 million and were only willing to accept cash or securities as collateral, not real estate.
Letitia James, the attorney general of New York, filed the lawsuit in Manhattan’s New York state court, with Trump denying any wrongdoing.
Trump earlier this month posted a$ 91.6 million bond to cover an$ 83.3 million defamation verdict for the writer E. Jean Carroll, while he appeals.”}]] [[{“value”:”
According to reports, the President Trump was unable to secure a bond of at least $400 million in a civil business fraud case in New York.
CNBC reports that Trump’s attorneys stated in a court document Monday that it was “impossible for them” to secure a full appeal bond.
“Donald Trump cannot secure a $454,000,000 bond while he appeals against the New York civil fraud judgement. Collin Rugg writes that according to Trump’s attorneys, it was impossible to post the entire bond after they had spoken to 30 underwriters.
“Defendants have shown through their ongoing diligence that a bond for the full amount of the judgment is a ‘practical impossibility’. The filing stated that these diligent efforts included approaching around 30 surety firms through 4 different brokers.
Rugg said that Trump’s net worth was estimated at $2.6 billion. He also claimed to have about $400 million cash.
JUST IN: Donald Trump cannot secure a $454,000,000 bond while he appeals a New York civil fraud judgement.
According to Trump’s attorneys, it is impossible for them to post the full bond even after they spoke with 30 underwriters.
“Defendants’ ongoing diligent efforts have proven that a… pic.twitter.com/SPVy3M3Xwd
Collin Rugg March 18, 2024
CNBC reports
Trump’s team approached around 30 surety firms through four different brokers, but without success. They also spent “countless hours negotiating” with one of the world’s largest insurance companies, according to a filing with the Appellate Section of Manhattan Supreme Court.
According to New York court rules Trump must post an appellation bond if he doesn’t want the New York Attorney General Letitia to try to collect the fraud judgment against the state.
James has stated that she will seize Trump’s property if Trump is unable pay the full judgment or obtain a bond for an appeal.
In their filing, Trump’s attorneys said that if it is decided to deny a stay on the judgment by the appellate division, then oral arguments should be scheduled.
WATCH:
BREAKING: Donald Trump has been unable to get a bond for the $464 million judgment in his New York civil fraud trial, his lawyers say pic.twitter.com/HhcVcFTulQ
MSNBC (@MSNBC), March 18, 2024
According to Reuters, “Enforcing a bond requirement that is impossible would cause manifest irreparable harm to Defendants,” wrote Trump’s lawyers.
BREAKING NEWS – Former President Donald Trump’s lawyers announced Monday that he has been unable to secure a bond to allow him to appeal the $464 million judgment in a New York civil case against him without paying the full amount. MORE: https://t.co/AVNRJg6whd pic.twitter.com/dVsbiBUnVd
— NEWSMAX (@NEWSMAX) March 18, 2024
According to Reuters
The lawyers requested that he be allowed to post $100 million in bond while he appeals. If Trump loses his appeal, the bonding company will be responsible for any payouts.
Trump’s attorneys included a statement from Gary Giulietti. He is an executive at the Lockton Companies insurance brokerage, which Trump hired to help him get a bond.
Giulietti wrote in his letter that a bond of the full $464,000,000 “is not feasible under the circumstances present,” noting that most sureties would not be willing to issue bonds over $100,000,000 and only accept cash or securities as collateral, not real estate.
Trump denied any wrongdoing. The case was brought by New York Attorney-General Letitia James at the New York State Court in Manhattan.
Trump posted a bond of $91.6 million earlier this month to cover an $83.3-million defamation judgment for the writer E. Jean Carroll while he appealed.
“}]]
