A New York judge will hold a hearing over the $175 million bond Donald Trump posted as he appeals a $454 million fraud judgment against him on April 22, the state attorney general's office said Thursday, after asking for more details about the bond. Days after Trump posted ...
A New York judge will hold a hearing over the $175 million bond Donald Trump posted as he appeals a $454 million fraud judgment against him on April 22, the state attorney general's office said Thursday, after asking for more details about the bond.
State Attorney General Letitia James' office filed papers giving Trump's lawyers or the bond underwriter 10 days to “justify” the bond — essentially, to show that the company can make good on it. That could mean disclosing more about the collateral Trump provided. The bond, posted Monday, at least temporarily stopped the state from potentially seizing Trump's assets to satisfy the more than $454 million that he owes after losing a lawsuit trial. The case, brought by the Democratic attorney general, alleged that Trump defrauded bankers and insurers by lying about his wealth.By posting the bond, Trump aimed to stop the clock on enforcement of the judgment during his appeal. But it hasn't gone entirely smoothly.
Then James' office filed notice that it “takes exception to the sufficiency” of the bond — a move that judgment winners can make to get more information from out-of-state underwriters, in some circumstances.The attorney general's notice doesn't request specific information. But “justifying” generally means demonstrating that the underwriter is financially sound and capable of paying out the bond amount if the judgment is upheld.
Civil Fraud Trial Ny Appeal Bond
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