04-08-2024, 01:25 PM
Legal experts and Newsweek say yes:
Well, I’m not holding my breath on this one. But like most things Trumpian, this bond-that-wouldn’t-pay is just kinda scammy, and that may not be enough to keep Letitia James at bay.
We’ll see.
Writing on X, formerly Twitter, one-time federal prosecutor Lisann wrote that Knight Speciality might not be able to post the bond for Trump and will be liable for the full amount because it had given a guarantee to the court.
"Looks like there is a real possibility that this Don Hankey-owned Knight Specialty Insurance does not itself have liquidity, and did not get from Trump collateral, sufficient to provide legally cognizable assurance that it can pay $175 million on demand in the event of a judgment-affirming appeal," he said.
… "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]," [lawyer Dave Kingman] wrote.
Well, I’m not holding my breath on this one. But like most things Trumpian, this bond-that-wouldn’t-pay is just kinda scammy, and that may not be enough to keep Letitia James at bay.
We’ll see.