They might be requiring it since the bond doesn't cover the whole amount.

There were a couple of other things they were supposed to do as well, and didn't. More slapstick lawyering from Team Trump.

HTownAg98 said:

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They might be requiring it since the bond doesn't cover the whole amount.

There were a couple of other things they were supposed to do as well, and didn't. More slapstick lawyering from Team Trump.

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Who is "they"? The way that read to me was the clerk's decision?

TRM said:

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He got a bond ffrom an insurance company.

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I thought that he got the bond from a finance company that specializes in financing cars for people with bad credit.

eric76 said:

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TRM said:

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He got a bond ffrom an insurance company.

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I thought that he got the bond from a finance company that specializes in financing cars for people with bad credit.

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Really?

Sheesh.

Perhaps it means the surety has to file a financial statement?

Rockdoc said:

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HTownAg98 said:

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They might be requiring it since the bond doesn't cover the whole amount.

There were a couple of other things they were supposed to do as well, and didn't. More slapstick lawyering from Team Trump.

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Don't worry, you may get him yet!

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Such an odd response that has nothing to do with the matter at hand.

You need a new schtick. This one has grown old and tired.

aggiehawg said:

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HTownAg98 said:

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They might be requiring it since the bond doesn't cover the whole amount.

There were a couple of other things they were supposed to do as well, and didn't. More slapstick lawyering from Team Trump.

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Who is "they"? The way that read to me was the clerk's decision?

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I dunno, maybe the court might have some rules and procedures you have to follow when posting a bond, and the clerk is reminding counsel of those particular rules and procedures.

HTownAg98 said:

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aggiehawg said:

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HTownAg98 said:

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They might be requiring it since the bond doesn't cover the whole amount.

There were a couple of other things they were supposed to do as well, and didn't. More slapstick lawyering from Team Trump.

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Who is "they"? The way that read to me was the clerk's decision?

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I dunno, maybe the court might have some rules and procedures you have to follow when posting a bond, and the clerk is reminding counsel of those particular rules and procedures.

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Or not. I know i have encountered some clerks with a bug up their azz over a proposed filing and that was on a freakin' probate case. Three times I went back to get her to accept the filing.

BTW, I was a law clerk running errands for the senior partner, a tax, probate and trust lawyer at the time. He knew his stuff. Clerk was just an older lady with a an attitude.

In later years, she loved me and would be very kind and polite. Sometimes you not only have to pay your dues with judges, you have to pay dues with the clerks too. Theylike you? They are great. They don't? Can make your life hell.

eric76 said:

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TRM said:

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He got a bond ffrom an insurance company.

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I thought that he got the bond from a finance company that specializes in financing cars for people with bad credit.

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not quite; Don Hankey may have gotten his wealth from westlake financial which does the subprime auto loans. He also does other stuff, including knight insurance, which underwrote the bond.

you probably think that due to terrible journalism in this country. As a general rule, most things we are fed by most news sources:

1) are outright lying in support of dem positions and/or against R positions
3) if are not outright lying, are wildly biased in support of dem positions and/or against R positions.

this may help in the future anytime you read anything generally anywhere. first thing to think: "these people are lying to me to push to an agenda, I should do my own research." second to think: "ok they aren't outright lying to me, but let me find the rest of the story I (should) know they aren't telling me." third thing: wtf are they ALWAYS biased against republicans and in favor of democrats. fourth: ok, maybe I should get my info somewhere else


https://www.latimes.com/business/story/2024-04-03/who-is-don-hankey-the-l-a-billionaire-who-financed-donald-trumps-appeal-bond

"Hankey's wealth has its foundation in Westlake Financial Services, one of the top providers of subprime auto loans to borrowers with bad credit. Hankey also owns North Hollywood Toyota and has long diversified beyond making subprime vehicle loans. Westlake has made loans for elective surgery. Other Hankey Group companies include Midway Auto Group, which rents out exotic and other automobiles, and Knight Specialty Insurance Co., a Hankey insurer that underwrote Trump's appeal bond. Forbes pegs his net worth at $7.4 billion"

And no way this clerk would make such a decision in this case without her bosses confirming her actions.

No *****
What hawg said from the git go!

the clerk said isn't "playing games". They are doing their job. They have to ensure the bonding company has liquidity to pay should an appeal not be successful.

It's knight insurance that has to file financial statement, not Trump or his companies

aggiehawg said:

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HTownAg98 said:

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aggiehawg said:

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HTownAg98 said:

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They might be requiring it since the bond doesn't cover the whole amount.

There were a couple of other things they were supposed to do as well, and didn't. More slapstick lawyering from Team Trump.

---

Who is "they"? The way that read to me was the clerk's decision?

---

I dunno, maybe the court might have some rules and procedures you have to follow when posting a bond, and the clerk is reminding counsel of those particular rules and procedures.

---

Or not. I know i have encountered some clerks with a bug up their azz over a proposed filing and that was on a freakin' probate case. Three times I went back to get her to accept the filing.

BTW, I was a law clerk running errands for the senior partner, a tax, probate and trust lawyer at the time. He knew his stuff. Clerk was just an older lady with a an attitude.

In later years, she loved me and would be very kind and polite. Sometimes you not only have to pay your dues with judges, you have to pay dues with the clerks too. Theylike you? They are great. They don't? Can make your life hell.

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That goes back to "figure out who's in charge and make sure they like you."

BMX Bandit said:

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the clerk said isn't "playing games". They are doing their job. They have to ensure the bonding company has liquidity to pay should an appeal not be successful.

It's knight insurance that has to file financial statement, not Trump or his companies

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This is exactly what I said earlier. I couldn't understand why they were saying they needed Trump's financial statements didn't make sense. Makes complete sense that they need a financial statement of the company providing the bond.

It's all been fixed.
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=exguJEXpWSu8fdl09aJOjw==

Im Gipper said:

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Perhaps it means the surety has to file a financial statement?

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What do I win?

Im Gipper said:

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Im Gipper said:

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Perhaps it means the surety has to file a financial statement?

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What do I win?

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To be fair, that notice was awkwardly worded and not very clear.

Not good enough for NY!

They aren’t satisfied that the surety is sufficient to cover the $175 million, if called on to pay. So they are demanding more information within the next 10 days, potentially including more information about how the bond is collateralized. Stay tuned.

— Lisa Rubin (@lawofruby) April 4, 2024

There's some petty ass *****es, and then there's Leticia James…

Lawfare.

Im Gipper said:

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Not good enough for NY!

They aren’t satisfied that the surety is sufficient to cover the $175 million, if called on to pay. So they are demanding more information within the next 10 days, potentially including more information about how the bond is collateralized. Stay tuned.

— Lisa Rubin (@lawofruby) April 4, 2024

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This is rather curious. If I read the following correctly, it appears that the Knight Specialty Insurance Company doesn't have sufficient assets to cover the bond.

From https://www.forbes.com/sites/alisondurkee/2024/04/04/trumps-175-million-fraud-bond-could-be-invalidated-if-insurance-company-doesnt-prove-it-can-cover-it/?sh=76b5b4462b3c

Quote:

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In its updated bond, Knight reported a surplus to policyholders of $138 millionwhich is basically the company's net worth, made up of its assets minus its liabilities. Since that's less than the $175 million that Trump owes, that means if Trump's bond wasn't fully secured through collateral or he couldn't pay the amount when it came time to do so, paying off the debt could wipe out the company's cash.

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That said, Trump supposedly posted all cash to cover the bond. Would that be the full amount of the bond, or the 10% of the bond paid to the bonding company?

Reading a variety of stories and reading some of the comments at the end, one comment suggested that Trump expects to lose the appeal and the bonding company will have to pay the full amount of the bond and then take him to court where he will drag it out until they bonding company settles for substantially less than what they pay out.

Another comment was that for the bond to be valid, Trump had to post collateral to cover the full amount of the bond which the bonding company could then come after if the appeal is lost.

Any ideas on the details about what is going on there?

Really surprised the wise Solomon judge did this

In Trump's civil fraud case, Justice Engoron schedules a hearing later this month on the sufficiency of the surety bond. pic.twitter.com/yLBAKyele3

— Adam Klasfeld (@KlasfeldReports) April 4, 2024

Eye roll

Im Gipper said:

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Not good enough for NY!

They aren’t satisfied that the surety is sufficient to cover the $175 million, if called on to pay. So they are demanding more information within the next 10 days, potentially including more information about how the bond is collateralized. Stay tuned.

— Lisa Rubin (@lawofruby) April 4, 2024

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Like I said: playing games.

This is election interference.

You said the clerk was playing games. That was not accurate.

Leticia been playing election interference games for years.

He's trying.

Ellis Wyatt said:

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Im Gipper said:

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Not good enough for NY!

They aren’t satisfied that the surety is sufficient to cover the $175 million, if called on to pay. So they are demanding more information within the next 10 days, potentially including more information about how the bond is collateralized. Stay tuned.

— Lisa Rubin (@lawofruby) April 4, 2024

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Like I said: playing games.

This is election interference.

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Or, it's a bigger problem…

Basically, the point appears to be that the insurer that Trump got isn't qualified to give a New York bond. Which is a big problem if true.

— Raffi Melkonian (@RMFifthCircuit) April 4, 2024

If the judge is satisfied at the hearing, then everything could be fine.

HTownAg98 said:

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Ellis Wyatt said:

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Im Gipper said:

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Not good enough for NY!

They aren’t satisfied that the surety is sufficient to cover the $175 million, if called on to pay. So they are demanding more information within the next 10 days, potentially including more information about how the bond is collateralized. Stay tuned.

— Lisa Rubin (@lawofruby) April 4, 2024

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Like I said: playing games.

This is election interference.

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Or, it's a bigger problem…

Basically, the point appears to be that the insurer that Trump got isn't qualified to give a New York bond. Which is a big problem if true.

— Raffi Melkonian (@RMFifthCircuit) April 4, 2024

If the judge is satisfied at the hearing, then everything could be fine.

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I'm sure engeron will be wholly satisfied …,

If they actually do have assets to cover the bond, I don't see why not. But getting a bonding company that can't do business in NY is going to raise a red flag. That was an unforced error on Trump's part.

Im Gipper said:

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You said the clerk was playing games. That was not accurate.

Leticia been playing election interference games for years.

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You're pretending these people are going to be satisfied with anything. They're not. They were never going to be. It is going to continue to be obstacle after obstacle.

source is daily beast, so don't know of valid but interesting if true:

https://finance.yahoo.com/news/incomprehensible-experts-trump-175-million-153908921.html

Quote:

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It does not appear that Knight Specialty Insurance Co. could even cover the bond if it wanted: according to a court filing, the company has financial reserves of just $138 million. And while a related corporate entity claims a financial surplus of $1 billion, the court filing does not explicitly state that it would be liable.

"Based on the financial statement provided, Knight Specialty is providing a bond that is one-third of its total assets and greater than its surplus, which is incomprehensible for a carrier to underwrite," Maria T. Vullo, a law professor at Fordham University who previously served as New York's top financial regulator, told the publication.

Indeed, experts who reviewed the bond filing said it appears to state that it is "Donald J. Trump" who "shall pay" any bond, an arrangement that is far from normal.

"This is not common," N. Alex Hanley, CEO of the civil bond company Jurisco, told the outlet.

New York Attorney General Letitia James also has questions about the bond and its issuer's ability to pay it, stating in a legal filing last week that she "takes exception to the sufficiency of the surety to the undertaking." A hearing on Trump's bond and the potential issues with it is scheduled for April 22.

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