Tag

Surety Companies

All articles tagged with #surety companies

legal-politics1 year ago•2 min saved

"New York Attorney General Challenges Trump's Financial Claims Amid Fundraising Pleas"

New York Attorney General Letitia James challenges Donald Trump's claim that he can't secure a bond to cover a $450 million civil business-fraud judgment against him, urging an appeals court to reject his assertion. Trump's attorneys stated that they were unable to secure a bond from surety companies, but James's office could begin seizing his assets if the bond isn't paid. The attorney general questioned the reliability of Trump's claims, citing sworn statements from individuals with personal and professional interests in the case. Trump and his company were found civilly liable for inflating asset values, and he was ordered to pay over $350 million plus interest.

via The Washington Post|

#appeal-bond #civil-business-fraud-judgment #donald-trump

legalfinance1 year ago•5 min saved

"Trump's Financial Woes Leave Him Unable to Secure $450 Million Appeal Bond"

Donald Trump and the Trump Organization have been unable to secure a surety company to issue an appeal bond for over $450 million to cover a judgment in the New York attorney general’s business fraud case against him. With a deadline looming, Trump's legal team is seeking a reprieve from an appellate court to prevent the state from seizing assets. The inability to secure the bond has put Trump's financial outlook in jeopardy, and if the bond isn't posted, New York state officials can begin seizing his assets. Trump's lawyers are calling it a "practical impossibility" to post the bond under the circumstances, and are seeking permission to send the issue to the state’s highest court for review.

via The Washington Post|

#appeal-bond #donald-trump #financial-judgment

legalfinancial1 year ago•2 min saved

"Trump's Struggle to Secure $464 Million Bond Raises Bankruptcy Concerns"

Former President Donald Trump's attorneys have stated that it is a "practical impossibility" for him to obtain a bond to secure the $464 million fraud judgment against him in New York. They have approached about 30 surety companies through 4 separate brokers, but have been unable to secure the bond, which would require cash or cash equivalents totaling about $1 billion. Despite claiming inability to afford the bond, Trump's attorneys argue that the attorney general doesn't need to worry about collecting the judgment, as Trump's real estate holdings greatly exceed the amount of the judgment.

via NBC News|

#appeal-bond #donald-trump #fraud-judgment