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Appeal Bond

All articles tagged with #appeal bond

legalpolitics1 year ago

"New York State Attorney General Investigates Validity of Trump's $175 Million Civil Fraud Bond"

New York state is demanding more information on the $175 million appeal bond posted by former President Donald Trump to block the collection of a civil fraud judgment. State Attorney General Letitia James has called for justification of the bond's bona fides, seeking more details on the collateral provided and the underwriter's ability to fulfill it. Trump's lawyer criticized the move as a "baseless public quarrel," while the attorney general's office filed notice of exception to the sufficiency of the bond. The bond, aimed at halting enforcement of the judgment during Trump's appeal, has faced procedural hurdles and scrutiny over its financial backing.

via The Associated Press|
#appeal-bond#attorney-general-letitia-james#civil-fraud-case
legalpolitics1 year ago

"New York Attorney General Challenges Validity of Trump's $175 Million Civil Fraud Bond"

New York state is demanding more information on the $175 million appeal bond posted by former President Donald Trump to block the collection of a civil fraud judgment. State Attorney General Letitia James' office has called for Trump's lawyers or the bond underwriter to justify the bond's bona fides, seeking more information on the collateral provided. Trump's lawyer criticized the move as a "baseless public quarrel," while the underwriter, Knight Specialty Insurance Co., provided financial statements showing its assets. The bond aims to halt enforcement of the judgment during Trump's appeal, but the state is seeking assurance of the underwriter's financial soundness.

via Yahoo Finance|
#appeal-bond#attorney-general-letitia-james#civil-fraud-case
business1 year ago

"California Billionaire Don Hankey's $175 Million Bond for Trump's Legal Troubles"

Don Hankey, a California financier and chairman of the Hankey Group of Companies, provided Donald Trump's $175 million appeal bond, drawing attention to his subprime auto lending and regulatory violations. Hankey's companies, including Westlake Financial, have faced multiple actions from regulators, such as illegal repossessions and failure to provide service members with benefits. Consumer complaints filed against Westlake include allegations of improper repossessions, unauthorized charges, and inaccurate loan reporting. Hankey's companies have also been subject to regulatory actions by the Consumer Financial Protection Bureau and the California Department of Insurance.

via NBC News|
#appeal-bond#business#don-hankey
legal-politics1 year ago

"Trump's $175 Million Appeal Bond: The Shady Banker and the Underwriter's Easy Decision"

Former President Donald Trump posted a $175 million bond in the New York civil fraud case after a state appeals court reduced the amount from $454 million, with the bond protecting his assets from seizure while he appeals the fraud judgment. The chairman of the company underwriting the bond stated that it was an easy decision, despite nearly 30 insurance companies declining to underwrite it. Additionally, an insurance company previously posted a $92 million appeal bond for Trump in a federal defamation case, prompting the CEO to defend the decision in a letter to investors.

via Fox Business|
#appeal-bond#donald-trump#insurance-companies
politics1 year ago

"Letitia James Could Benefit from Donald Trump's Reduced Bond, Says George Conway"

George Conway, a vocal critic of Donald Trump, suggested that New York Attorney General Letitia James may benefit from the recent appellate court ruling lowering Trump's appeal bond to $175 million, as it guarantees the state the ability to collect at least that much if it wins the appeal without having to chase Trump's assets. Despite Trump's indication that he intends to pay the bond quickly, the reduced bond could be seen as a win for James and her office in their pursuit of the penalty against Trump and The Trump Organization.

via Newsweek|
#appeal-bond#donald-trump#george-conway
legal-politics1 year ago

"Letitia James Responds to Trump's Bond Reduction"

New York Attorney General Letitia James responded to an appeals court's decision to allow Donald Trump to proceed with a reduced appeal bond in his civil fraud case, emphasizing that Trump is still facing accountability for his alleged fraud. Trump's lawyers were unable to secure the original bond amount, and the appeals court has given him 10 more days to post a $175 million bond. If Trump fails to do so, his bank accounts could be frozen and properties seized by James' office.

via Newsweek|
#appeal-bond#civil-fraud-case#donald-trump
legal1 year ago

Court Rules Trump Can Post Reduced Bond in Civil Fraud Case

A New York appeals court has ruled that former President Donald Trump can post a smaller bond of $175 million within 10 days as he appeals the $454 million judgment against him in a civil fraud case. This reduction in the bond amount may help Trump stave off a looming financial disaster, potentially preventing the New York attorney general’s office from collecting the judgment while the appeal process unfolds.

via The New York Times|
#appeal-bond#civil-fraud-case#donald-trump
politics1 year ago

"Trump Faces High-Stakes Deadline in $454 Million NY Civil Fraud Case"

Former President Donald Trump faces a deadline to post a $454 million bond while appealing a New York civil fraud trial loss, with New York Attorney General Letitia James potentially moving to freeze his assets or seize his property. Trump's legal team claims it's practically impossible to secure the bond, while Trump himself asserts he has nearly $500 million in cash. If James were to collect the judgment now and Trump won his appeal, he could be entitled to get the money back, but there's no guarantee he could buy back his property at the same price. James could move quickly to freeze bank accounts and seize real estate, with the judgment immediately becoming a lien on Trump's New York real estate.

via USA TODAY|
#appeal-bond#asset-seizure#donald-trump
politics1 year ago

"Eric Trump's Claims About Lenders and Seizing Trump's Properties Spark Controversy"

Eric Trump's comments about the difficulties his family faced in securing a bond payment for his father's civil fraud ruling sparked ridicule online, with many mocking his remarks on Fox News' Sunday Morning Futures. The former president, Donald Trump, faces a penalty of over $450 million after being found liable in a civil fraud trial brought by the New York Attorney General, and his inability to secure the bond amount has led to widespread criticism and ridicule on social media.

via Newsweek|
#appeal-bond#civil-fraud-trial#donald-trump
politics-legal1 year ago

"Eric Trump Concerned as Deadline Nears for Trump's $454 Million Fraud Judgment"

Former President Donald Trump faces the risk of New York's attorney general beginning to collect a $454 million civil business fraud judgment against him on Monday, with his son Eric accusing the AG of trying to bankrupt his father. Trump's lawyers claim he is unable to pay for an appeal bond to prevent the AG from collecting the judgment, and if the appeals court does not grant Trump a temporary waiver, the AG can begin seizing Trump properties to satisfy the judgment.

via CNBC|
#appeal-bond#donald-trump#eric-trump
politics1 year ago

"Trump Asserts $500 Million Cash to Cover New York Fraud Bond"

Donald Trump claims to have nearly $500 million in cash, contradicting his lawyers' statement that he doesn't have enough money to post a bond for his $464 million civil fraud appeal. Trump says he intends to use the cash for his presidential campaign, but his lawyers have not made this claim to the appeals court. New York Attorney General Letitia James has threatened to seize Trump's real estate assets if he can't pay the judgment, and his lawyers have been unsuccessful in securing an appeal bond.

via CNBC|
#appeal-bond#civil-fraud-case#donald-trump
politics1 year ago

Trump Asserts He Has $500M in Cash for Bond Amid Legal Battle

Donald Trump claims to have nearly $500 million in cash to pay his appeal bond owed to New York state after being found liable for fraud, but has not been able to secure the required amount. He accused the judge and attorney general of trying to seize his assets and damage his political campaign, framing his legal troubles as a calculated attempt to stifle his re-election bid.

via The Daily Beast|
#appeal-bond#donald-trump#fraud
legalfinancial1 year ago

"Judge Tightens Oversight on Trump Organization's Finances Amid Appeal Bond Efforts"

A judge has ordered the Trump Organization to inform a court-appointed financial overseer about any future attempts to secure appeal bonds, following the company's struggle to obtain a bond for a civil fraud case. The order requires disclosure of all efforts to obtain surety bonds, personal guarantees, and any conditions imposed on the company. The financial monitor, Barbara Jones, has been tasked with overseeing the Trump Organization's financial activities, prompting complaints from the company. If the appeal bond is not secured, New York's attorney general can begin seizing Trump's properties to collect the judgment.

via CNBC|
#appeal-bond#civil-fraud-case#donald-trump
politics1 year ago

"Insurers Unwilling to Back Trump's $454M Civil Trial Bond"

Former President Trump is facing challenges in obtaining a $454 million appeal bond for a New York civil case as nearly 30 insurance companies have declined to underwrite it due to difficulties with collateral and potential negative reactions. This comes after Chubb issued a $92 million appeal bond for Trump in a federal defamation case, prompting concerns and illustrating the headline risk for insurance companies. Trump's lawyers have requested a reduction in the bond amount, while the New York Attorney General taunts Trump about the interest he owes on the civil fraud judgment.

via Fox Business|
#appeal-bond#civil-case#insurance