Post by Drifter on Mar 18, 2024 14:15:34 GMT -5
Trump lawyers: Securing full $454 million bond ‘practical impossibility’ in NY fraud case
Former President Trump’s lawyers indicated in a court filing Monday that he is unable to secure the full $464 million bond due in his New York fraud case, an endeavor one insurance broker called “a practical impossibility.”
Attorneys for Trump and his co-defendants in the case said in a filing with the state’s intermediate appeals court it was “impossible” for them to secure the full amount for an appeal bond.
“Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” the lawyers wrote, citing an affidavit signed by an insurance broker who testified for Trump during the trial last year.
Trump’s attorneys claim they have spent “countless hours negotiating with one of the largest insurance companies in the world” and have approached 30 companies to back the bond, efforts they said they were pursuing before the judgment was made.
“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers wrote.
Read more : HERE
Former President Trump’s lawyers indicated in a court filing Monday that he is unable to secure the full $464 million bond due in his New York fraud case, an endeavor one insurance broker called “a practical impossibility.”
Attorneys for Trump and his co-defendants in the case said in a filing with the state’s intermediate appeals court it was “impossible” for them to secure the full amount for an appeal bond.
“Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” the lawyers wrote, citing an affidavit signed by an insurance broker who testified for Trump during the trial last year.
Trump’s attorneys claim they have spent “countless hours negotiating with one of the largest insurance companies in the world” and have approached 30 companies to back the bond, efforts they said they were pursuing before the judgment was made.
“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers wrote.
Read more : HERE
