Tries to pull a fast one, in keeping with all of his other business fraud.

He hoped he could pull a fast one on the court, it didn't work,
but he was able to buy himself some time.

No real money.

New York AG asks for the judge in Trump's civil fraud case to REJECT the Knight surety and declare the bond to be "without effect."

Link to tweet

My guess is that the court will reject it, but that's just speculation on my part.

Ambiguous.

Last edited Sat Apr 20, 2024, 02:45 PM - Edit history (1)

After that James could start the process of taking Trump's property. However, I'm guessing that if the bond is rejected by the court, Trump will appeal and ask the appellate court to stay any action by James until that appeal is decided.

In other words, I don't expect James to be able start doing much immediately.

What's next? Bond reduced to 50??

…charging him with fucking perjury for his under-oath statement regarding his cash holdings.

Link to tweet

I just gotta ask here, is it HER job to see this? WTF? Day one it should have been REJECTED!!

that, while a non-admitted company can issue a bond or policy under certain circumstances, you would be on your own regarding any enforcement in the case of a default. Meaning the state of NY would have to look at many millions in legal expenses and perhaps many years only to end up with nothing. Knight could have that subsidiary file bankruptcy the minute a claim for that NY bond came in and then face a nightmare scenario of trying to get any money.

Move against the properties and maybe find there is little value beyond the leverage along with having umpteen different other creditors hitting you with lawsuits trying to hamstring you while trying to preserve their "interests". Even if they would all be unsuccessful you might still be looking at millions in litigation and many years.

It's a bad situation without a true escrow of the bond amount. The house of cards Knight and the Orange Ruski constructed is worse than worthless. It's a potential money trap of legal costs.

It's gotta be close to half a billion by now.

I totally predicted he'd try to get away with a bogus bond without real collateral as soon as I heard he was trying to post bond. Though I'm still not sure if this is him trying to get away without paying the judgment, or another delaying tactic to ask for even more time to fix the intentional incompetence.

I know there are liquidity requirements for these things - in other words, an insurer isn't allowed to put all his eggs in one orange basket. How much surplus would Knight have to be sitting on to legally write a $175 million surety bond? Especially to someone who's as famous for not paying his bills as Trump is?

They might be better off taking their $175 million to Aqueduct Racetrack or Belmont Park and betting on horses. If you're good at predicting horse races you can make quite a bit of money in that pursuit.

So, not even close. If the parent company owned by his buddy wanted to write it they would have.

At least according to Trump’s filing they do. If it’s true you can only write a bond for 10 percent of your company’s capital, they’re still way short.

...any defending attorney should know that they must have their paperwork in order as legitimate before even filing it with the court, which is wh they should be licensed in various states to engage in this.

Posting bonds is not a new thing for attorneys, they know the rules, regulations, guidelines etc. of what is an acceptable bond posting or not, so filing this kind of non-compliant paperwork must be considered a deliberate attempt to interfere with the procedings of the court.

and sell his real estate.

New York's attorney general said Knight Specialty Insurance Company has not shown that it has enough collateral to back the bond.

Link to tweet

New York's attorney general said Knight Specialty Insurance Company has not shown that it has enough collateral to back the bond.

Link to tweet