NY asks court not to let Trump forgo $454M bond
The presumptive Republican nominee's lawyers said earlier this week that he couldn't find an underwriter willing to take on the entire amount. But the state is arguing that Trump and his co-defendants didn't explore every option.
The "defendants fail to propose a serious alternative to fully secure the judgment,"
He suggested those alternatives could include dividing the total among multiple bonds from different underwriters -- or letting a court hold some of Trump's real estate while he appeals. The ex-president is challenging a judge's ruling last month that he, his company and key executives inflated his wealth on financial statements that were used to get loans and insurance.
One of Trump's attorneys,
In a radio interview early Wednesday, Trump reiterated his complaints about the case, the judgment and the bond requirement.
"They don't even give you a chance to appeal. They want you to put up money before the appeal. So if you sell a property or do something, and then you win the appeal, you don't have the property," Trump said on WABC's "Sid & Friends In The Morning."
Under the judgment, Trump needs to pay more than
Trump said last year that he has "fairly substantially over
He denies all the allegations.
Trump recently posted a
In the other, he put over
But in a court filing Monday, Trump's lawyers asked the state's intermediate appeals court to excuse him from having to post a bond for the
The attorneys wrote that "it is not possible under the circumstances presented." They said underwriters insisted on cash or other liquid assets instead of real estate as collateral, which would have to cover 120% of the judgment, or more than
Insurance broker
The few provided go to huge public companies, Giulietti said. Trump's company is private.
But Fan, the lawyer in the attorney general's office, wrote Wednesday that "there is nothing unusual about even billion-dollar judgments being fully bonded on appeal," citing a handful of cases. They largely involved publicly traded companies.
Fan asked the appeals court to turn down Trump's request to hold off collection, without a bond, while he appeals.
If the appeals court doesn't intervene, James can start taking steps
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