donald trumpHis legal saga is hitting another hurdle… this time, the former Prez says he’s having trouble getting help paying a massive multimillion-dollar bond in his New York civil case.
DT will have to post a $464 million bond to serve the sentence against him – he’ll have to do that soon… by the end of the month, in fact. Still, his lawyers say he is struggling to provide her with the money.
In legal documents obtained by TMZ, Trump’s lawyers signaled Monday that they are facing a roadblock in their efforts to find an insurer interested in securing the substantial monetary penalty… describing the task as a “sensible impossibility.”
Trump’s team explains that they unsuccessfully approached 30 underwriters to back the bond… writing, “The value of the judgment, with interest, exceeds $464 million, and only a few surety companies will consider a bond for anything close to that.” magnitude”.
The document says their efforts include “many hours of negotiation with one of the largest insurance companies in the world”… which they insist shows how it is not possible to purchase an attraction title for full value.
Trump’s lawyers add that potential underwriters often look for the title to be secured by cash or cash equivalents… which makes it virtually impossible to use real estate assets to secure the title. His team says Trump would need nearly $1 billion in cash reserves for an insurance company to get back on board — and it looks like they’re saying DT hasn’t received them.
As a result, Trump’s lawyers asked the appeals court to uphold the imposition of the massive financial judgment without requiring bail to be posted during the proceedings… which would essentially block the New York Attorney’s Common Law. Letícia James of trying to implement the collection while the appeal is ongoing. A decision on its presentation still needs to be made.
You may remember… Manhattan Supreme Court ruling Arthur EngoronTrump’s ruling ordered Trump and his co-defendants to pay a sizable $464 million in damages after finding him responsible for conspiring to govern your Internet worth. Trump was ordered to pay $454 million of that total.
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