‘Til It’s Over

So Trump has now posted a corrected bond in the NY civil fraud case brought by NY Attorney General Tish James. And as expected, the information it adds is about Knight Speciality Insurance Co., not the Trump Org. 1/

— Lisa Rubin (@lawofruby) April 4, 2024

But what else might it show? That for all of his billions and business acumen, Don Hankey might not exactly be an experienced surety provider. 3/

— Lisa Rubin (@lawofruby) April 4, 2024

And then:

They aren’t satisfied that the surety is sufficient to cover the $175 million, if called on to pay. So they are demanding more information within the next 10 days, potentially including more information about how the bond is collateralized. Stay tuned.

— Lisa Rubin (@lawofruby) April 4, 2024

Details:

The filing said [New York], “Hereby takes exception to the sufficiency of the surety,” noting the Knight Specialty Insurance Company is trying to operate “without a certificate of qualification.” In New York, state regulators are required to meet certain standards, guaranteeing they are “solvent, responsible and otherwise qualified to make policies or contracts of the kind required.” 

Since the company is out of California, New York doesn't have that information. James explained in her filing that the company must prove that they are financially able to cover Trump's hefty sum if he loses the appeal.

I keep coming back to Trump saying he had the money.