The bond was provided by California-based company Knight Specialty Insurance Company. Trump’s collateral to secure the loans was a combination of cash and investment-grade bonds, according to Don Hankey, the chairman of Knight Insurance.
Hankey told Forbes that his company had initiated the deal, reaching out to Trump just a few days before an appeals court lowered the amount Trump would have to pay while his appeal was heard. “This is what we do at Knight insurance,” said Hankey, who confirmed he had supported Trump’s political campaigns in the past. “I’d never met Donald Trump. I’d never talked to him on the phone. I heard that he needed a loan or a bond, and this is what we do. So, we reached out, and he responded.” The deal, Hankey said, came together in just a few days.
Hankey, a billionaire who presides over an auto-services empire, may never have met Trump, but he was the largest individual owner of Axos Financial, the lender that bailed out Trump by refinancing his mortgages at Trump Tower and his Miami resort in 2022. Axos also previously had done business with the family of Jared Kushner, Trump’s son-in-law.
Praise God! Unsurprisingly, I haven't heard much about the posting. What a sense of humor he's got - I bet he purposely waited till April Fool's Day to post it. 😆😆😆
It was easy to see Trump setting them up again. 14 day ago I commented this: After CNBC and the mainstream liars published this for a day or so, Trump announced he had paid the bond.
🤔💰⚖️ Trump can’t secure $454 million appeal bond in New York fraud case, his lawyers say https://greatawakening.win/p/17siEYe2Oy/-trump-cant-secure-454-million-a/?sort=new
A bond ends up costing you about 20% of the amount pledged, so if he funded half himself his cost will be around $175 million x .5 = $87.5 million ...then x .20 = $17.5 million.
Therefor his cost $17.5 million if he wins appeals...quite possible.
Instead of coming up with $480 million @ 9%?
Trump has been winning his ass off.
Plus--5 months away...Trump cashes out the "DJT stock offering". Estimated $3.5 B...@ $30/share...currently 50.55/share = $5.7 billion in cash.
Trump can easily pay the full fines plus whatever they come up with by November, PLUS fund his entire campaign.
Bottom line...Trump played this whole thing to put in as little as possible up front, extending the time-line to his big media cash-out. Mission accomplished. Ankle-biters? Suck it hard.
This is what Trump's lawyers had to say about the larger bond
In addition, sureties would likely charge bond premiums of approximately 2 percent per year with two years in advance—an upfront cost over $18 million," the filing said. That $18 million would not be recoverable even if Trump wins his appeal.
This is apples to oranges.
Therefor his cost $17.5 million if he wins appeals...quite possible.
Instead of coming up with $480 million @ 9%?
As you're comparing cost of a bond vs the cost of the judgement.
He would still have to pay the full judgment if he lost. That hasn't been reduced.
YET
I read somewhere that the appeals panel reducing the bond by 60% might indicate the appeals court might be thinking about cutting the judgement.
The cheapest way is still if you have the cash, put up the undertaking yourself.
The DJT cash is certainly good timing.
The appeals court mentioned September as their timing.
DJT is betting that NON-Soros appeals courts will at least reduce fines substantially.
MORE important, dragging his feet on funding, plus using bonds allows him to bridge the short-term cash crunch the Globohomos were attempting to complicate his campaign.
W/ the big media merger, he only has to make it to September to be able to pay ALL awards plus fund his own campaign.
In reality, he will do much much better than that. He'll reverse some decisions and get a Soros judge/prosecutor or two's head on a pike.
Yeah, I don't know why anyone would be surprised. It was obvious he was just waiting. I also don't know why they'd think this is a win or that if he hadn't, they'd have been able to seize assets.
that if he hadn't, they'd have been able to seize assets.
Because that's how the law works.
If you have a judgement against you, you have an automatic 30 day "stay" of the judgement. Then to get a further stay, you need to put up the money or get a bond company to put up the money.
If you sued me and were awarded 1 million dollar judgement, I would have to put 1 million into an escrow account. If I didn't you have the right to execute the judgement and collect the money. As the judgement creditor you could ask the sheriff or a marshall to seize my assets
You get to take the amount of the judgement. Not everything. Unless the assets can't cover it.
If I owed you a judgement of 1 million dollars. And I had 500 grand in the bank and a car collection worth 5 million.
If I didn't pay the bond while I appealed you would have the right to execute the judgement once 30 days passed
You could seize my bank account and my cars. I couldn't stop you. After the cash I would owe you 500,000 grand.
The sheriff could start auctioning off my cars. Let's say 5 cars brought in 522,000. You would get the rest of your money and I would get 22 grand and the rest of my cars.
Seizing assets and auctioning them go through the courts and legal orders and it's not a quick thing.
I have been suspicious of you since you were a handshake.
You are being dishonest, and that makes me more suspicious.
You know people were arguing this, you know that was the outcome that they wanted, because they thought they'd be able to break him like that.
They run across Twitter and Reddit, giddy at the thought and it is strictly dishonest to pretend it wasn't happening.
Additionally, asset seizures are already dubious when it comes to the Constitutional rights of the people -- and I do not care what state law you attempt to quote that clashes with the Constitution, as there are many attempts to do just that, and you -- apparently -- would eat that up, defend it and proclaim everyone else is wrong.
Queue the liberal tears! They were so looking forward to seizing President Trump's assets.
u/#libcry
CASH
The Bond was put up by an insurance company.
https://www.forbes.com/sites/zacheverson/2024/04/01/trump-posts-175-million-bond-new-york-civil-fraud-lawsuit/?sh=6567be8686d9
Drop the mic.
CAAAAAA$$$$$$$$$HHHHHHHHHHH
Promises made promises kept
Praise God! Unsurprisingly, I haven't heard much about the posting. What a sense of humor he's got - I bet he purposely waited till April Fool's Day to post it. 😆😆😆
It was easy to see Trump setting them up again. 14 day ago I commented this: After CNBC and the mainstream liars published this for a day or so, Trump announced he had paid the bond. 🤔💰⚖️ Trump can’t secure $454 million appeal bond in New York fraud case, his lawyers say https://greatawakening.win/p/17siEYe2Oy/-trump-cant-secure-454-million-a/?sort=new
This didn't happen though. He did not pay the bond two weeks ago. And he didn't say he had paid the bond 2 weeks ago
He might have said he could pay.
But paying the bond means you have to file court papers that are public. He certainly did not pay the bond 2 weeks ago.
Here's the bond papers
https://www.documentcloud.org/documents/24528561-donald-trump-175-million-bond-new-york-civil-fraud-knight-insurance
A bond ends up costing you about 20% of the amount pledged, so if he funded half himself his cost will be around $175 million x .5 = $87.5 million ...then x .20 = $17.5 million.
Therefor his cost $17.5 million if he wins appeals...quite possible.
Instead of coming up with $480 million @ 9%?
Trump has been winning his ass off.
Plus--5 months away...Trump cashes out the "DJT stock offering". Estimated $3.5 B...@ $30/share...currently 50.55/share = $5.7 billion in cash.
Trump can easily pay the full fines plus whatever they come up with by November, PLUS fund his entire campaign.
Bottom line...Trump played this whole thing to put in as little as possible up front, extending the time-line to his big media cash-out. Mission accomplished. Ankle-biters? Suck it hard.
I think 20% is way too high.
This is what Trump's lawyers had to say about the larger bond
This is apples to oranges.
As you're comparing cost of a bond vs the cost of the judgement.
He would still have to pay the full judgment if he lost. That hasn't been reduced.
YET
I read somewhere that the appeals panel reducing the bond by 60% might indicate the appeals court might be thinking about cutting the judgement.
The cheapest way is still if you have the cash, put up the undertaking yourself.
The DJT cash is certainly good timing.
The appeals court mentioned September as their timing.
September is when DJT can cash in stock.
DJT is betting that NON-Soros appeals courts will at least reduce fines substantially.
MORE important, dragging his feet on funding, plus using bonds allows him to bridge the short-term cash crunch the Globohomos were attempting to complicate his campaign.
W/ the big media merger, he only has to make it to September to be able to pay ALL awards plus fund his own campaign.
In reality, he will do much much better than that. He'll reverse some decisions and get a Soros judge/prosecutor or two's head on a pike.
Suck it, Trebek!
🤣
$175 million --> 1+7+5 = 13
Surprise, surprise.
Why they surprised? Trump has deep pockets he never admits to. Of course he had the money to post it. He never once looked worried about it.
Yeah, I don't know why anyone would be surprised. It was obvious he was just waiting. I also don't know why they'd think this is a win or that if he hadn't, they'd have been able to seize assets.
Because that's how the law works.
If you have a judgement against you, you have an automatic 30 day "stay" of the judgement. Then to get a further stay, you need to put up the money or get a bond company to put up the money.
If you sued me and were awarded 1 million dollar judgement, I would have to put 1 million into an escrow account. If I didn't you have the right to execute the judgement and collect the money. As the judgement creditor you could ask the sheriff or a marshall to seize my assets
https://www.nycourts.gov/courts/nyc/smallclaims/collectingjudgment.shtml
You do not get to take everything he's worth just because he didn't post it, and that's what they mean.
You know it, I know it. Don't pretend otherwise.
I don't know what you mean.
I don't think anyone was actually arguing this.
You get to take the amount of the judgement. Not everything. Unless the assets can't cover it.
If I owed you a judgement of 1 million dollars. And I had 500 grand in the bank and a car collection worth 5 million.
If I didn't pay the bond while I appealed you would have the right to execute the judgement once 30 days passed
You could seize my bank account and my cars. I couldn't stop you. After the cash I would owe you 500,000 grand.
The sheriff could start auctioning off my cars. Let's say 5 cars brought in 522,000. You would get the rest of your money and I would get 22 grand and the rest of my cars.
Seizing assets and auctioning them go through the courts and legal orders and it's not a quick thing.
But read the link I posted, that's the process.
I have been suspicious of you since you were a handshake.
You are being dishonest, and that makes me more suspicious.
You know people were arguing this, you know that was the outcome that they wanted, because they thought they'd be able to break him like that.
They run across Twitter and Reddit, giddy at the thought and it is strictly dishonest to pretend it wasn't happening.
Additionally, asset seizures are already dubious when it comes to the Constitutional rights of the people -- and I do not care what state law you attempt to quote that clashes with the Constitution, as there are many attempts to do just that, and you -- apparently -- would eat that up, defend it and proclaim everyone else is wrong.
Oh my god, first you were arguing that this was false
and it's not.
Then you move the goalposts to it was about seizing all his assets.
which is also false.
when I talk about how the actual process would go, you call me dishonest because of????
Idiots on Reddit and Twitter?
I was talking about the NY AG and the judge not idiots on Twitter.
More goalpost moving
Attachment is a legal concept hundreds of years old. It's been part of creditor/debtor law forever. Here's an example from 1702
https://en.m.wikipedia.org/wiki/File:Return_of_1702_writ_of_attachment_signed_by_Chief_Justice_John_Guest_of_Pennsylvania.jpg
Here's an example from the papers of Thomas Jefferson.
https://founders.archives.gov/documents/Jefferson/01-02-02-0132-0004-0117
This is different from the more recent civil forfeiture laws.
Now that is A Bam BOOM BAM!!!!
In CASH!!!
u/#panic
I think Trump set the assholes up for the fall.