Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search


(4,274 posts)
10. It is also important to note
Fri Apr 19, 2024, 05:42 PM
Apr 19

that, while a non-admitted company can issue a bond or policy under certain circumstances, you would be on your own regarding any enforcement in the case of a default. Meaning the state of NY would have to look at many millions in legal expenses and perhaps many years only to end up with nothing. Knight could have that subsidiary file bankruptcy the minute a claim for that NY bond came in and then face a nightmare scenario of trying to get any money.

Move against the properties and maybe find there is little value beyond the leverage along with having umpteen different other creditors hitting you with lawsuits trying to hamstring you while trying to preserve their "interests". Even if they would all be unsuccessful you might still be looking at millions in litigation and many years.

It's a bad situation without a true escrow of the bond amount. The house of cards Knight and the Orange Ruski constructed is worse than worthless. It's a potential money trap of legal costs.

Trump produces a fake bond. Irish_Dem Apr 19 #1
Smoke and mirrors backing. pandr32 Apr 19 #2
This will be fun to watch LetMyPeopleVote Apr 19 #3
Isn't that forgery or lying to court? onetexan Apr 19 #4
Could be just stupid lawyers who thought they could get away with it. riversedge Apr 19 #13
Sounds like purposely defrauding the court to me onetexan Apr 19 #19
Neither. Its just relying on an argument that the court may, or may not, reject. onenote Apr 19 #23
Reject "it" --- being the bond or the James request? intrepidity Apr 20 #24
Sorry. The bond. He'll give them 7 days to come up with a different bond. onenote Apr 20 #25
Ty. nt intrepidity Apr 20 #29
Gonna have to start a can koozie fundraiser soon... nt EarthFirst Apr 19 #5
Another 7-days delay... (if granted by the Court) Justice matters. Apr 19 #6
Might I suggest... returnee Apr 19 #7
BREAKING: New York Attorney General Letitia James drops a Friday bombshell on Donald Trump and formally asks the judge riversedge Apr 19 #8
Thank God for HER, but bluestarone Apr 19 #18
Oh, The Donald is going to have a nice, relaxing weekend... catbyte Apr 19 #9
It is also important to note moniss Apr 19 #10
There's nothing left. Chubb has it all tied up. twodogsbarking Apr 19 #11
Indict him on anouther count of fraud and reinstate the FULL amount of the judgment Novara Apr 19 #12
Heh, I called this Diraven Apr 19 #14
Another question comes to mind jmowreader Apr 19 #15
I read that in New York the bond can only be 10% of their assets. Phoenix61 Apr 19 #16
The parent company is claimed to have $1 billion in assets jmowreader Apr 19 #22
Delay achieved. Hermit-The-Prog Apr 19 #17
You are correct. republianmushroom Apr 19 #21
Delay in having assets seized? Or delay of the appeal? onenote Apr 20 #26
Huh, who would have though it. republianmushroom Apr 19 #20
I'd suggest adding charge for filing false documents also.... Think. Again. Apr 20 #27
I am so shocked. If you can't trust DJT financially who can you trust? captain queeg Apr 20 #28
Take the yellow haired thief Maxheader Apr 20 #30
Letitia James says company that put up Trump's $175 million bond may not have enough funds LetMyPeopleVote Apr 21 #31
Letitia James says company that put up Trump's $175 million bond may not have enough funds LetMyPeopleVote Apr 21 #32
Latest Discussions»Latest Breaking News»New York AG says $175 mil...»Reply #10