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Former President Donald Trump won against New York Attorney General Letitia James in court Monday regarding a question surrounding the $175 million bond Trump posted in the civil fraud case.
The appeals court ruling guaranteed Trump could appeal the judgment. Arguments for the appeal are set for September. The firm that underwrote the bond is Knight Specialty Insurance Company. The company essentially promised to cover the $175 million bond if Trump loses his appeal and fails to pay. Trump paid Knight Specialty Insurance Company a fee and pledged cash as collateral to obtain the company’s coverage.Trump and the Trump Organization in February for more than $350 million and barred him from serving as an officer or director of any New York corporation for three years.
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