Donald Trump’s problematic $175 million bond to cover his New York civil fraud appeal has raised questions about what exactly led to the rejection of his insurer’s paperwork, says a legal analyst.
The Trump Organization’s court-appointed monitor, Barbara Jones, likely has all the answers, MSNBC legal analyst, Lisa Rubin, wrote on X, formerly Twitter.
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“The financial statement that is missing does not seem to be Trump’s. Rather, the court appears to be demanding these documents from Knight Specialty Insurance Co. to ensure that the company is sufficiently capitalized and authorized to post the bond,” Rubin wrote on Wednesday.
“Meanwhile, we still don’t know what fee Trump paid for the bond or exactly what collateral he pledged,” Rubin added.
“But you know who likely DOES have all of those details? Retired federal judge Barbara Jones, the court-appointed monitor in the case. Under a 3/21/24 order, the Trump Org must give her advanced notice of their efforts to secure surety bonds.”
Not only that, but Trump Org is not the entirety of Trump’s holdings, and it was Trump the appellant who obtained and is covered by the surety, not the group of business entities with his name on it.
Also, in New York, when you post an appeal bond, the winning party – not the court – decides whether the surety is acceptable, because the debt belongs to the winning party and not the court.
Letitia James has already notified the court that she does not accept the surety on behalf of the state (the winner of Trump’s case), and a hearing will be scheduled as per NY law to discuss it. Archive link
There are quite a few missing points in this person’s analysis, enough to make me think they really don’t know what they’re talking about.