Posted on 04/05/2024 10:56:17 AM PDT by Red Badger
New York Attorney General Letitia James is questioning whether the surety company covering former President Donald Trump’s $175 million bond is capable of fulfilling its obligation.
On April 1, Trump posted a $175 million bond to prevent James from seizing assets after an appeals court ruled the former president could post the bond amount to cover a civil fraud judgment of $464 million.
[snip]
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 Knight Specialty Insurance Company’s coverage.
James questions the company’s ability to cover the sum of the bond, a Thursday court filing showed. Judge Arthur Engoron, who determined Trump’s civil judgment, tentatively scheduled a hearing for April 22 to discuss James objections, the New York Times reported:
In a court filing on Thursday, Ms. James noted that Knight was not registered to issue appeal bonds in New York, and so she demanded that the company or Mr. Trump’s lawyers file paperwork to “justify” the bond within 10 days. Ms. James is seeking to clarify whether Knight, which had never posted a similar court bond before aiding Mr. Trump, is financially capable of fulfilling its obligation to pay the $175 million if Mr. Trump defaults.
Even if Knight lacks the funds itself, the company should be able to tap the collateral Mr. Trump pledged.
In a statement on Thursday, a lawyer for Mr. Trump, Christopher M. Kise, slammed Ms. James, calling her case a “baseless and vindictive political crusade” and her objections to the bond an effort “to stir up some equally baseless public quarrel in a desperate effort to regain relevance.”
(Excerpt) Read more at breitbart.com ...
I like your logic and explanation, PJ. Very good. Excellent point. Just the absence of a bond company to provide such a bond is prima facie evidence that the bond violates the Eighth Amendment (”Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.”),
Ah, gotta love DEI “lawyers”.
The IQ of a washing machine, morals of a Democrat (think about that), and the wisdom of a slime mold.
A lawyer for Mr. Trump slammed James, calling her case against Trump a “baseless and vindictive political crusade” and her objections to the bond he posted as an effort “to stir up an equally baseless public quarrel in a desperate effort to regain relevance.”
As an aside, there seems to be an over-representation of blacks and Jewish people persecuting Trump:
Jews:
Judge Kaplan, Judge Engoron, Merrick Garland, Judge Beryl Howell, Shenna Bellows (Maine Secretary of State) , Jena Griswold (Colorado Secretary of State), George Soros, Reid Hoffman (financial support for E Jean Carroll), Jamie Raskin and Debbie Wasserman, Schultz( co-sponsored legislation to kick Trump off the ballot)
Blacks:
Damian Williams, Alvin Bragg, Letitia James, Fanni Willis, Judge Yvette Roland, Judge Moxila A. Upadhyaya, Judge Tonya Chutkan
This beeotch wants so desperately to steal some of DJT’s buildings, with the national media in tow, that she can’t even see straight.
Sickening.
Disgusting.
SOP for the dhimmicraps, though.
Sign from God:
“In a rather seismic turn of events, the New York tri-state area on Friday felt the tremors of its most significant earthquake since 1884, shaking the region with a magnitude of 4.8 and surprising many locals in the process.
But what’s even more surprising? The epicenter’s proximity to Donald Trump’s National Golf Club in Bedminster, New Jersey.”
NY Post today
Sure would be a shame if James is just left with a pile of rubble. from the earthquake and Trump walks away with the property insurance money.,
Of course would really be a sign of God if her offices were to crumble to the ground.
Why is this witch still involved shouldn’t be handed over to a sane person now ?
Credit for making the point goes to DainBramage. I just endorsed it.
-PJ
Showing once again why a) this suit should never have been filed, b) why the Appeals Court should have made the bond ZERO, and c) why it has nothing to do with any real concerns, just about racist revenge seeking trash James trying to wire brush Trump about anything.
There will never be ANYTHING he can do that she won’t contend.
Meanwhile, NY devolves further into chaos, and they deserve it...they elected this obese Ork.
Not to worry; I’ve been turning down lots of “Just us” applicants to my apartment and I tell them it’s because of Letitia James’ “Housing Stabilization and Tenant Protection Act of 2019”
No I can’t take extra security deposit b/c of your low credit score; that’s illegal per Tish.
No I can’t take anyone with a credit score under 600. Tish James made it too risky for housing providers to do that by making it practically impossible to evict a non paying tenant. Plus the recent moratoriums.
Didn’t
Earn
It
Maybe I’m naive, but I’ve never heard of someone having to pay a fine BEFORE they can appeal. That doesn’t make sense, am I right? Because it’s denying someone the right to an appeal if they can’t pay the fine. It’s leftist hypocrisy again - Only the rich can appeal meanwhile they claim they want cashless bail because not everyone can afford bail.
“James questions the company’s ability to cover the sum of the bond,...”
Is that usual? Honest question.
It’s a NY thing........................
Is that usual?
No it isn’t....................
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