Letitia James contended the former president failed to demonstrate that the company behind his bond had the resources to pay it if his appeal failed.

Letitia James contended the bond company may not have enough resources to pay.

Lawyers for the New York Attorney General asked Judge Arthur Engoron on Friday to reject former President Donald Trump’s $175 million bond for his civil judgment and require him to post a new one within seven days.

Letitia James contended that the former president failed to demonstrate that Knight Specialty Insurance Company, the company behind his bond, had the resources to pay the bond if Trump’s appeal failed.

…

In February, Engoron determined that Trump and his co-defendants engaged in a decade-long scheme to inflate the former president’s net worth to get better business deals and interest rates on loans.

  • MNByChoice@midwest.social
    25·
    8 months ago

    I believe only the paperwork has been received, the bond has not been “accepted”. This filing is pushing to not accept it.

    It has effectively paused some clocks in this particular case, but that gets beyond me.

    Edit: on mobile, fixed a typo. “Gets” had been “geys”.