If you remember in the Trump fraud trial, he found a company to put up the $175 million dollar bond to prevent the judgement from being executed while he appeals. Without this bond, Trish James could begin going after his assets.

Previous threads on this.

https://greatawakening.win/p/17siXLad6O/trump-ny-bond-still-not-settled/ https://greatawakening.win/p/17siXNr8xa/more-info-on-the-trump-ny-bond--/

She challenged the bond and the bond company had until Midnight tonight to "justify the undertaking." They just filed their paper with an hour to go. There's a hearing on this next Monday.

The challenge was about

1 Is this company registered in NY

2 Do they have enough capital to cover the bond.

3 Why did they give two different company's numbers when only one company is guaranteeing the bond.

Here's their filing. https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=NJfBycB2k9qVU06lZJUsQQ%3D%3D

So they say they have the money because they have $138 million equity, access to 175 million in Trump's collateral and because their parent company has a billion in equity

Knight Specialty Insurance Company (“KSIC ”) is putting up the bond. ...The $175 million bond is collateralized by $175,304,075.95 in cash held in a Charles Schwab account pledged to KSIC.......KSIC also independently maintains more than $539 million in assets and $138 million in equity and has access to more than $2 billion in assets and $1 billion in equity, of which nearly $1 billion is cash and marketable securities, pursuant to a reinsurance agreement with its parent company, Knight Insurance Company (“KIC”)

As for 1, They argue the don't need to registered with the NY Department of Financial Services because they are allowed to provide a different kind of insurance in NY and are allowed to provide surety bonds in Delaware.

For 2 and 3 They can pay because they have their own money and can access the collateral and KSIC has an agreement with KIC

This might all be good, but it's not straightforward.

1 might be a weird loophole or might be totally legit.

2 and 3 raise my eyebrows. They don't have immediate control of the collateral and only get access to it after 48 of requesting it. And it seems that money can flow out of that account,

The Pledge Agreement also includes a “true-up ” provision that requires the Trust to deposit additional collateral into the Account in the event the Account balance falls below the required minimum.

KIC is not an American company, it's based in the Cayman Islands. >KIC is a Cayman Islands exempt company

Just saying the first bond went through a well known insurance company and they didn't have any issues with it. We see what happens with this next week.