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Donald the Orange and Family Sued in NY

lpetrich said:
Trump on Truth Social:
"I had to pay New York State in order to appeal a corrupt decision by a biased, crooked and highly overturned judge," Trump wrote in the social post. "It’s supposed to be the other way around - you appeal before you pay. Is a crooked New York Judge allowed to make you pay for the “privilege” of appealing a wrongful & corrupt decision??? NOT IN AMERICA!!!"
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Certainly every talking head I have seen has stated that yes, paying to appeal a financial judgment is standard. He knows this of course, but he's trying to make it sound to his ignorant followers as if the system is being unfair to him.
 
Loren Pechtel said:
starwater said:
Current financial statement???!!! That's got to be a heavy lift - he actually needs to make it correct for a court case otherwise it will be a contempt of court? Or basis for a new fraud filing?
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Sounds like he's stepped into a mineshaft full of manure.
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I'll take that back--sounds like the court wants financials on the insurance company, not on the Orange Fool. And it looks like they may not have enough.
 
Looks like the bond offer by Knight Insurance of Ca could be rejected because the insurance company is not licensed to do such business in New York.
 
ZiprHead said:
Looks like the bond offer by Knight Insurance of Ca could be rejected because the insurance company is not licensed to do such business in New York.
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So … does the clock get re-set again?
 
He had been given 10 days to get this stuff straightened out. Considering that firm doesn’t have the money or license, I doubt that will be fixed in time. Maybe someone else will step in? Maybe the DA can start measuring Trump Tower for new curtains, and a new sign?
 
You’d think asking if they can do business in the jurisdiction would be the first question.

Then again I’m not a stable genius like Trump who hires all the best people.
 
Shadowy Man said:
You’d think asking if they can do business in the jurisdiction would be the first question.

Then again I’m not a stable genius like Trump who hires all the best people.
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Moreover the company should have known and informed the great legal minds surrounding Trump.
Still, a person who is unaware of a law may not escape liability for violating that law merely by being unaware of its content. Or the judge can just give them the Latin version.
 
The Shady Company Backing Trump’s Bond May Never Actually Pay Up | The New Republic - "The parent company of Knight Specialty Insurance Company is set up in a way that will make it hard to collect the bond."
The financial backer covering Donald Trump’s $175 million bank fraud bond has already been revealed as a “king of subprime car loans” with sketchy business practices. But the financial situation behind the dubiously leveraged suretor, Knight Specialty Insurance Company, has gotten even more complicated: Apparently, its parent company is located in the Cayman Islands, a popular tax haven for corporations and the ultrarich.

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In a court filing last week, Knight revealed that its liquid assets don’t meet the needs of Trump’s already minimized bond. According to a financial assessment, the company, owned by billionaire Don Hankey, had just $138 million in “surplus.” Knight would therefore need to spend 127 percent of its reserves in order to cover Trump’s bond—far more than the 10 percent of a state-regulated suretor’s surplus that’s allowed by New York law.
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"Problematic": Trump's $175 million bond could be "very difficult" to collect due to Cayman ties | Salon.com - "It raises a whole other level of complexity," expert says"
The financial details are complicated, but the gist is this: the bond's issuer is itself insured by the similarly named but island-based parent company -- and since that island is a notorious tax shelter for the rich and powerful, that parent does not have to divulge key financial data, like whether it has enough cash on hand to cover a sudden $175 million bill.

“The Caymans are widely recognized as a ‘secrecy jurisdiction,’" Tom Grober, a forensic account, told The Daily Beast. "If you called the regulator in the Caymans and asked, ‘Can you tell me if Knight reinsurance has enough to cover these claims?’ Their laws require total confidentiality. Why?"
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Trump’s Bond Is So Weak, Letitia James May Still Seize His Assets
As it turns out, the company has nowhere near the capital and surplus to guarantee Trump’s bond. What’s more, the legal document it produced does not seem to promise to pay the full penalty if Trump’s appeal fails.
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noting
Letitia James Nears Green Light to Start Taking Donald Trump's Assets
The New York Attorney General may start collecting Trump assets if he fails to post a bond by next Monday, a leading real estate lawyer has said.

Paul Golden, author of Litigating Constructive Trusts and a partner at New York law firm Coffey Modica, told Newsweek that either Trump or a bond company must file a motion by Monday stating they have a $175 million bond in place.

"Presumably, if the motion fails, the Attorney General will take the position that the bond is without effect and that the Attorney General may start to take collection efforts," Golden said.

"Of course, if for whatever reason a court rules the bond is without effect, then Trump would likely appeal that decision as well, and possibly seek a stay in the context of that separate appeal too," he said.
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I see that lpetrich beat me to this 4 days ago, but it turns out the "billionaire" couldn't even raise the tiny bond he was granted on appeal. The surety company -- run by Trump cronies -- (a) has never done this sort of surety business before, (b) is not authorized in New York or any other jursidiction, (c) has committed several federal crimes, (d) has assets of $140 million (a far cry from the $1.75 billion needed, since only 10% of capital can be used as surety, and (e) operates from a tax haven (Cayman Islands) so couldn't be forced to come up woth the $175 million anyway.

I saw this on the Brian and Glenn show:
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And why the hell will Trump get an ADDITIONAL 7 days (to beg Putin for the cash) when the Judge rules out this fake surety. Justice delayed is justice denied. Or does a defense team get another 7-day delay every time they make an improper filing?

Why is Trump allowed to get away with this shit? If Justice were fair he'd be long-since locked up on various charges, and the full $500+ million seized. (I know, I know. Actually harm the Orange Sociopath and millions of Americans would vote for him out of sympathy.)
 
marc said:
He had been given 10 days to get this stuff straightened out. Considering that firm doesn’t have the money or license, I doubt that will be fixed in time. Maybe someone else will step in? Maybe the DA can start measuring Trump Tower for new curtains, and a new sign?
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Satan Towers.
 
It was pretty funny that they indicate their cash holdings wasn't even what the bond was held for. They ain't small, but not big enough for such a bond.
 
Jimmy Higgins said:
It was pretty funny that they indicate their cash holdings wasn't even what the bond was held for. They ain't small, but not big enough for such a bond.
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Give James credit. She's ticking to her guns and isn't being intimidated. She seems to have a real hardon for Trumpo and he knows it. But he also knows that she's doing it all legally. So his only recourse is to sit when the judge tells him to sit. As far as James is concerned he's just another petty asshole.
 
Cheerful Charlie said:
marc said:
He had been given 10 days to get this stuff straightened out. Considering that firm doesn’t have the money or license, I doubt that will be fixed in time. Maybe someone else will step in? Maybe the DA can start measuring Trump Tower for new curtains, and a new sign?
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Satan Towers.
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I was in NY yesterday. Sent my wife a photo of Tiffany’s, In lieu of actually buying something for her (no, I didn’t have breakfast there either). Then I rounded the corner, and there was Shithole Tower. I had no idea it was in the middle of the luxury shopping district.

Ugly building. Uglier “owner”. For now.
 
NY AG asks Trump civil fraud judge to declare $175M bond ‘without effect’ | The Hill - 04/19/24 4:40 PM ET
The New York attorney general’s office has asked a judge to void the $175 million bond former President Trump secured to put off paying the larger monetary damage award in his civil fraud case.

State lawyers said in court filings Friday that the former president and his co-defendants — the Trump Organization and its top executives, including his two eldest sons — failed to prove the surety Trump used to obtain the bond actually has the money to back it.
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Judge approves reinforced $175 million bond in Donald Trump civil fraud - 12:05 p.m. ET April 22 2024 - "Trump argued he posted collateral for the bond in cash, so there should be no problem. The agreement Monday will give the bonding company, Knight Specialty Insurance, exclusive access to the account."
  • Judge Arthur Engoron approves steps to strengthen $175 million appeal bond in Trump's civil fraud case.
  • Trump argued he posted $175 million in cash as collateral to the bonding company, Knight Specialty Insurance, so government lawyers should have no problem.
  • But state Attorney General Letitia James' lawyers had been concerned Trump still had access to the cash. The agreement gives Knight exclusive access to the account.

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Lawyers for Trump and James huddled to reach an agreement under which Schwab will maintain the account in cash and Knight will get exclusive control of the account. Engoron approved the deal.

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Trump appeal continues to challenge Engoron's $454 million judgment
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