"I see trouble on the way.”EXCLUSIVE | New information shows that the insurance company that swooped in and bailed out Trump with a $175 million bond isn’t on a list of vetted companies—and wrote a bizarre contract.https://t.co/xwxGrRkEu8
— The Daily Beast (@thedailybeast) April 8, 2024
“The legal document from Knight Specialty Insurance Company doesn’t actually promise it will pay the money if the former president loses his $464 million bank fraud case on appeal. Instead, it says Trump will pay, negating the whole point of an insurance company guarantee.” https://t.co/Rk8GNgF6gX
— George Conway (@gtconway3d) April 8, 2024
“‘There are many questions here, and that short piece of paper gives very little comfort,’ said Maria T. Vullo, who was formerly New York’s top financial regulator.
— George Conway (@gtconway3d) April 8, 2024
“‘I believe this paper isn’t worth much and there are more shenanigans behind it,’ said one former regulator,… https://t.co/Rk8GNgF6gX
Looks like there is a real possibility that this Don Hankey-owned Knight Specialty Insurance does not itself have liquidity, and did not get from Trump collateral, sufficient to provide legally cognizable assurance that it can pay $175 million on demand in the event of a… https://t.co/eYZvceZBPT
— Eric Lisann (@EricLisann) April 5, 2024
Apparently knowing that they have a problem, they also include the fin statement of Knight Insurance. Not only is it still laughable, but Knight Ins is not a surety on the bond. It doesn't have any obligation to pay if a demand is made.
— Dave Kingman, Esq. (@DaveKingman8) April 4, 2024
Big, if true. Could come down to Trump proving to Engoron that he has the collateral. 😈I have a correction -- I've said that the collateral is irrelevant. That's wrong. There's a provision of the Insurance Law that allows a surety to write a bond irrespective of its own capital if it obtains collateral for the amount above what it is authorized to write.
— Dave Kingman, Esq. (@DaveKingman8) April 5, 2024
No comments:
Post a Comment