When does Trump have to pay $355 MM?

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TRM
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11:23a, 4/9/24
AG
I'd like to see the financial statement she's talking about.

Surplus = Assets - Liabilities

and Reserves are booked on the Liability side, so it seems like they're trying to muddy up the water. They should really look at the Cash, Cash equivalent, and short-term holdings that are more liquid.
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Im Gipper
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In reply to TRM • 11:32a, 4/9/24
Here you go!

https://eddsa.blob.core.usgovcloudapi.net/public/452564_2022_PEOPLE_OF_THE_STATE_OF_v_PEOPLE_OF_THE_STATE_OF_BOND_UNDERTAKING_1707.pdf

I'm Gipper
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TRM
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In reply to Im Gipper • 11:44a, 4/9/24
AG
Ok. I misread that statement that a separate corporate entity has $1B in surplus. I was thinking Knight Specialty had $1B in surplus. Their use of reserves is what I'd call equity or surplus.

Technically, they're correct that they don't have the money to pay - otherwise they'd be insolvent. There could be a reinsurance facultative treaty between Knight Specialty and the separate entity that they could disclose to show they have the financial backing.

ETA: If the bond is accepted, with that liability on the books, the State DOI would have the authority to take control of the company.
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GenericAggie
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7:21p, 4/9/24
AG
This is all ridiculously exhausting. F NY
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Stat Monitor Repairman
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8:34p, 4/9/24
The process of posting a supersedeas bond has worked seamlessly in the background as a carryover from British common law times and has largely been uneventful.

UNTIL NOW.

It's only when the defendant is named Donald Trump that we find it necessary to sift through the financials of surety and re-insurance companies.
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Reality Check
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In reply to Stat Monitor Repairman • 8:40p, 4/9/24
Apparently this guy who owns tens of billions of dollars worth of property and is under constant Secret Service surveillance for the rest of his life is somehow a flight risk?
Author of the TexAgs Post of The Day - May 31, 2024

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BMX Bandit
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In reply to Reality Check • 4:44a, 4/10/24
Reality Check said:
Apparently this guy who owns tens of billions of dollars worth of property and is under constant Secret Service surveillance for the rest of his life is somehow a flight risk?



Very fake news.


The bond here has nothing go do with being a "flight risk".
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Reality Check
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In reply to BMX Bandit • 6:13p, 4/11/24
BMX Bandit said:
Reality Check said:
Apparently this guy who owns tens of billions of dollars worth of property and is under constant Secret Service surveillance for the rest of his life is somehow a flight risk?



Very fake news.


The bond here has nothing go do with being a "flight risk".
I can 100 percent guarantee you that if he loses his appeal (zero percent chance of this happening) that he will be able to be located, as will $500 million worth of his property.
Author of the TexAgs Post of The Day - May 31, 2024

How do I get a Longhorn tag?
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aggiehawg
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In reply to TRM • 6:17p, 4/11/24
AG
Quote:
ETA: If the bond is accepted, with that liability on the books, the State DOI would have the authority to take control of the company.
That's a big risk, in my view. Departments of Insurance can be very difficult to reason with when they have decided to shut one down.
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BMX Bandit
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In reply to Reality Check • 6:28p, 4/11/24
Reality Check said:
BMX Bandit said:
Reality Check said:
Apparently this guy who owns tens of billions of dollars worth of property and is under constant Secret Service surveillance for the rest of his life is somehow a flight risk?



Very fake news.


The bond here has nothing go do with being a "flight risk".
I can 100 percent guarantee you that if he loses his appeal (zero percent chance of this happening) that he will be able to be located, as will $500 million worth of his property.


Yes, and the bond still has nothing to do with any claim he's a "flight risk"
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eric76
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In reply to Reality Check • 7:12p, 4/11/24
AG
Reality Check said:
Apparently this guy who owns tens of billions of dollars worth of property and is under constant Secret Service surveillance for the rest of his life is somehow a flight risk?
This bond isn't for the purpose of compelling him to show up for trial.

There are all kinds of reasons for bonds.
ef857002-e9da-4375-b80a-869a3518bb00@8shield.net
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eric76
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In reply to Stat Monitor Repairman • 7:16p, 4/11/24
AG
Stat Monitor Repairman said:
The process of posting a supersedeas bond has worked seamlessly in the background as a carryover from British common law times and has largely been uneventful.

UNTIL NOW.

It's only when the defendant is named Donald Trump that we find it necessary to sift through the financials of surety and re-insurance companies.
Are you saying that prior to now, nobody cared whether or not a bond company could actually be able to pay the bond if the person bonded cannot pay it or refuses to pay it?
ef857002-e9da-4375-b80a-869a3518bb00@8shield.net
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shiftyandquick
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8:55p, 4/11/24
Trump not paying the bond company and ruining them is going to make me laugh.
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jt2hunt
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In reply to shiftyandquick • 11:05p, 4/11/24
AG
shiftyandquick said:
Trump not paying the bond company and ruining them is going to make me laugh.


We would have never guessed this thought….
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Rongagin71
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In reply to shiftyandquick • 9:12a, 4/12/24
AG
shiftyandquick said:
Trump not paying the bond company and ruining them is going to make me laugh.
Since this would hurt his chances to win the election,
you can be sure Trump will only fail if he HAS to fail.
The Dems are trying very hard to make him fail,
would it please you if they succeeded in election interference?
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FatZilla
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9:33a, 4/12/24
AG
Those balance sheets/statements were from December were they not? How would those be expected to show a payment from Trump if he just contracted them in April?
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bobbranco
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In reply to shiftyandquick • 10:57a, 4/12/24
AG
shiftyandquick said:
Trump not paying the bond company and ruining them is going to make me laugh.
You are carving out a wonderful niche for yourself in the fascist regime comrade.
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TRM
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In reply to FatZilla • 11:20a, 4/12/24
AG
The balance sheet won't change wildly from December.
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FatZilla
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In reply to TRM • 11:27a, 4/12/24
AG
TRM said:
The balance sheet won't change wildly from December.
it could if trump made some type of payment to them.
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TRM
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In reply to FatZilla • 11:52a, 4/12/24
AG
I'm willing to bet not otherwise their IRIS ratios will get out of tolerance on these quarterly filings.
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TheCurl84
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12:10p, 4/12/24
AG
I think Trump, through one of his sons, should sell access to him and his admin to the Chinese for $355M. And then voila! Fine paid!!

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Im Gipper
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5:47p, 4/19/24
Leticia not happy!!


I'm Gipper
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MarkTwain
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In reply to Im Gipper • 6:03p, 4/19/24
Im Gipper said:
Leticia not happy!!



The beech has lost her mind and is going to guarantee this case gets tossed
“Never argue with stupid people, they will drag you down to their level and then beat you with experience" - Mark Twain
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MarkTwain
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11:53a, 4/22/24
Once again James is slapped down for her foolishness. NYC court rejected her request for Trump's surety bond to be reject. Court ruled in Trump's favor because he put up cash for the entire amount
“Never argue with stupid people, they will drag you down to their level and then beat you with experience" - Mark Twain
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Im Gipper
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11:59a, 4/22/24
Update!

The court requires $175 million in cash, not subject to market fluctuations like mutual funds

Knight Insurance retains control over the money but is prohibited from trading it

Monthly financial statements confirming the cash amount must be provided to James

Any changes to the agreement must be approved by the court


I'm Gipper
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Stat Monitor Repairman
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12:01p, 4/22/24
Quote:
The court requires $175 million in cash, [the USD] not subject to market fluctuations like mutual funds
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jt2hunt
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In reply to Im Gipper • 2:19p, 4/22/24
AG
Im Gipper said:
Update!

The court requires $175 million in cash, not subject to market fluctuations like mutual funds

Knight Insurance retains control over the money but is prohibited from trading it

Monthly financial statements confirming the cash amount must be provided to James

Any changes to the agreement must be approved by the court


This is false and not what happened at all. The judge was confused about what money market funds are not mutual funds, which are totally different. Money market funds are like cash. They don't fluctuate because they're not invested. Good try though.
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aggiehawg
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In reply to jt2hunt • 2:27p, 4/22/24
AG
Quote:
This is false and not what happened at all. The judge was confused about what money market funds are not mutual funds, which are totally different. Money market funds are like cash. They don't fluctuate because they're not invested. Good try though.
Engeron didn't know the difference between money market and mutual funds? I'd say that was par for the course for that financial idiot.
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oysterbayAG
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2:37p, 4/22/24
AG
Technically, it is possible for Money Market Funds to lose value, although highly improbable. Therefore, the monthly reports. James will be pissed when she sees how much money Trump makes with the 5% interest compounded !
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FatZilla
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In reply to oysterbayAG • 2:44p, 4/22/24
AG
oysterbayAG said:
Technically, it is possible for Money Market Funds to lose value, although highly improbable. Therefore, the monthly reports. James will be pissed when she sees how much money Trump makes with the 5% interest compounded !


They have only ever broken the buck like what, 2 times? And it was by i think 2 pennies on the dollar for a very short time. The current market rates paying 4-5% have as close to a 0% chance as you can get to breaking the buck right now anytime soon.
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aggiehawg
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2:59p, 4/22/24
AG
FWIW,

Quote:
  • Former President Donald Trump is poised to receive up to 36 million additional shares of Trump Media after trading closes Tuesday.
  • The shares would be worth more than $1.25 billion at current prices.
  • Trump Media, which owns the Truth Social app, set aside these so-called earnout shares for him if the company's stock met a minimum share price benchmark.
  • Trump, who is the presumptive Republican presidential nominee, was in New York for opening statements in his criminal hush money trial.
Quote:
Shares of Trump Media, which owns the Truth Social app, were trading at around $35 per share midday Monday, about half the price per share they debuted at in March.

But that price is twice the $17.50 benchmark minimum share price, which the DJT ticker has to hit by the close of trading Tuesday, for Trump to become eligible for the extra so-called earnout shares.

That earnout is contingent on the benchmark being hit for 20 trading days within a 30 trading-day period, beginning March 25. Tuesday is the 20th day, and it is very unlikely that DJT will fall below the benchmark price by the end of that day.

Trump Media's share price was down about 1.8% as of 12:17 p.m. ET.

The 36 million additional shares for Trump would be added to the 78.75 million shares he already owns, as the company's majority shareholder.

When the earnout shares are added to his existing stock, Trump's total stake in Trump Media would be worth more than $4 billion on paper, at $35 a share.

Trump Media has the power to issue a total of 40 million earnout shares, as part of the merger deal that combined it with a publicly traded shell company, Digital World Acquisition Corp.
LINK
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techno-ag
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In reply to aggiehawg • 3:18p, 4/22/24
AG
aggiehawg said:
FWIW,

Quote:
  • Former President Donald Trump is poised to receive up to 36 million additional shares of Trump Media after trading closes Tuesday.
  • The shares would be worth more than $1.25 billion at current prices.
  • Trump Media, which owns the Truth Social app, set aside these so-called earnout shares for him if the company's stock met a minimum share price benchmark.
  • Trump, who is the presumptive Republican presidential nominee, was in New York for opening statements in his criminal hush money trial.
Quote:
Shares of Trump Media, which owns the Truth Social app, were trading at around $35 per share midday Monday, about half the price per share they debuted at in March.

But that price is twice the $17.50 benchmark minimum share price, which the DJT ticker has to hit by the close of trading Tuesday, for Trump to become eligible for the extra so-called earnout shares.

That earnout is contingent on the benchmark being hit for 20 trading days within a 30 trading-day period, beginning March 25. Tuesday is the 20th day, and it is very unlikely that DJT will fall below the benchmark price by the end of that day.

Trump Media's share price was down about 1.8% as of 12:17 p.m. ET.

The 36 million additional shares for Trump would be added to the 78.75 million shares he already owns, as the company's majority shareholder.

When the earnout shares are added to his existing stock, Trump's total stake in Trump Media would be worth more than $4 billion on paper, at $35 a share.

Trump Media has the power to issue a total of 40 million earnout shares, as part of the merger deal that combined it with a publicly traded shell company, Digital World Acquisition Corp.
LINK
Winning.
Trump will fix it.
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will25u
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7:31a, 5/9/24
Probably nothing....

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MarkTwain
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9:14a, 6/21/24
Trump attorneys filed a motion Thurs to try to get Judge Arthur Engoron who oversaw his civil fraud trial in New York kicked off the case. Trump seeks recusal of Engeron who fined him $464M in civil fraud trial. Trump alleges he violated New York's Code of Judicial Conduct.

“Never argue with stupid people, they will drag you down to their level and then beat you with experience" - Mark Twain
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Ellis Wyatt
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10:33a, 6/21/24
Engoron should be disbarred right alongside Merchan. They'll be rich for what they have done to Trump regardless.
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