(RepublicanNews.org) – Doubts have been raised around the ability of Knight Specialty Insurance to post the promised $175 million bond on behalf of Donald Trump while he appeals his civil fraud case. New York State Attorney General Letitia James, who brought the case against Trump, will be able to begin proceedings to collect the full amount – which totals over $450 million – through asset and property seizures if the company is unable to make good its promise or the court rejects the bond as invalid.
In trying to make a bond payment while appealing the verdict against him, Trump ran into a major difficulty. Of the thirty surety companies his legal team said they had contacted, none were able to post the full amount. Trump was granted a small reprieve by an appeals court at the eleventh hour when he was permitted to post a bond of $175 million instead. In a filing to the court made on Thursday, April 4th, however, James questioned the validity of Knight Specialty’s promise, observing that the firm is not an admitted carrier in the state of New York and does not have the required certificate of qualification.
This concern was echoed by other members of the legal profession, such as New York attorney Bruce H. Lederman, who described “glaring errors” in the bond. Another attorney, Dave Kingman, took to X, formerly Twitter, to say that Knight Specialty would be liable for the bond, even if unable to pay it, and that Trump would not be granted a stay in the proceedings. Billionaire Don Hankey, who owns the surety firm, denied that there would be any issue in paying the bond.
Trump’s legal team an updated bond to the court shortly before James’ filing on April 7th, in which further details about Knight Specialty’s finances and ability to post bond were included, but the Attorney General’s office said that the added detail still missed some required information. As such, Trump and his team were given a further 10 days to supply the necessary information to the court.
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