New York Attorney General Questions Trump’s $175 Million Bond Deal

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The New York attorney general’s office on Thursday took exception to a $175 million bond that Donald J. Trump recently posted in his civil fraud case, questioning the qualifications of the California company that provided it.

By providing the bond — which is a legal document, not an actual transfer of money — Knight essentially promises New York’s court system that it will cover $175 million of the judgment against Mr. Trump if he loses his appeal and fails to pay. In return, Mr. Trump pays a fee to Knight, and pledges it a significant amount of cash as collateral.

https://www.nytimes.com/2024/04/04/nyregion/letitia-james-trump-bond-deal.html
 
"In a court filing on Thursday, Ms. James noted that Knight was not registered to issue appeal bonds in New York, and so she demanded that the company or Mr. Trump’s lawyers file paperwork to “justify” the bond within 10 days. Ms. James is seeking to clarify whether Knight, which had never posted a similar court bond before aiding Mr. Trump, is financially capable of fulfilling its obligation to pay the $175 million if Mr. Trump defaults.
 
Knight Insurance Group is worth $2.3 billion and has an annual revenue of $545 million. It is a world-wide company and part of the Hankley Group worth $23.4 billion.
https://www.knightinsurancegroup.com/

A.M. Best, an assets and bond rating company gives Knight Insurance an A- (Excellent) rating.
https://news.ambest.com/newscontent.aspx?refnum=179306

Knight's rating has been improving and last year went from BBB+ to A-
https://www.businesswire.com/news/h...ght-Insurance-Company-Ltd.-and-Its-Affiliates

Letitia James is grasping at straws as her case falls apart.
 
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