“But the Trumpian part is that even though, or perhaps because, it may be part of a Trump scam, Knight now too may be on the hook for $175 million as it won’t automatically get out from underneath its own proffered surety.”
Hankey, a billionaire, has already said that his company will be able to post the money for Trump.
He was reacting to a comment on X by lawyer Dave Kingman, who wrote that Knight will not be able to post the $175 million.
“Understand that Knight Specialty has a problem. This bond cannot be approved. Under the CPLR [Civil Practice Laws and Rules] the surety will remain obligated under the bond until a replacement bond is filed. Trump is unlikely to get a replacement bond. Knight Spec will be liable AND Trump won’t have a stay [on enforcement],” he wrote.
FTA:
“Thus NY AG James looks to be soon greenlit to execute on her $450 million judgment against Trump as if Trump posted no bond.”
That was my #1 question in all of this, assuming a bond failure, does she get to go after $175 million in assets or $450 million?
Now we know…
Edit: This article is garbage. Letitia James hasn’t announced shit, this is reporting what some guys on Twitter are talking about. I wouldn’t hold my breath until a better source reports about it.
The State of New York gets to collect on the entire judgement. That is the amount that the trial court found him liable for and that’s the amount he must pay.
The bond amount being lowered only means that he needs to post that amount as a guarantee against the judgement in order to stop execution before he appeals. If he loses his appeal, he still needs to pay the full amount of the judgement. Since the bond was no good, it is the same as if he didn’t post anything.
Newsweek articles are often garbage.
Yup it’s all speculation and discussion of what people are saying. Like the Trumpism “Many people are saying”.
Tried to comment on that but just get downvoted because people see the (wrong) headline and think it’s the truth.
This should be the top comment. I’m so goddamn tired of articles based on tweets
I often go to threads about Newsweek articles to see the discussion, but I never click the articles anymore. They’re a total rag, and seem to have figured out that people on both sides will click an article saying Trump is going to get something that’s coming to him.