Trump's Bond Has Been Rejected

[gab13by13]

Trump's bond has been rejected until Knight Specialty provides the court with more information.

Attorney Tristan Snell, author of Taking Down Trump about his experience suing Trump on behalf of students of the failed Trump University, noted that the insurance paperwork has been "returned for correction"

"[The] court demands that the bond underwriter, Knight Insurance, provide more info about their own solvency and authorization to cover the bond. Is there something else shady in how Trump's bond is being handled?" Snell wrote on X on Wednesday.

Wednesday's New York County Supreme Court notice read:

"The court has returned the documents listed below for the following reasons: Please include a current financial statement and Power of Attorney. Additionally, please list the name of the Attorney-in-Fact under the signature line on the Undertaking. Please use the 'Refile Document' link for Doc. No. 1707 to resubmit the corrected filing. Thank you and have a great day."

https://www.msn.com/en-us/news/other/donald-trump-s-175m-bond-rejection-raises-questions/ar-BB1l3WU5

[dlk]

1. Delay, delay, delay is the name of the game

Is anyone surprised Hankey’s finances are hinky?

[AllaN01Bear]

23. that is what he has done his adult life . outspend . out live . dela. rinse and repeat.

[Abigail_Adams]

26. I cracked up when I read that name in the news.

All I could think of was, "Hiiiiiiiiiiii-deee-hooooooooo!" Which is so fitting.

[Ray Bruns]

61. Mr Hankey

https://m.

[edhopper]

31. This is not delay

this is him doing more shady shit. If this bond is rejected, he can't appeal and he loses.

[dlk]

39. It's doubtful Trump can come up with the bond requirement

This latest shady bond effort has resulted in another delay.

[soldierant]

72. Exactly. Thanks.

TEF may think this will buy him some time - but it won't.

And I OL'ed over the last four words. That seems like really twisting the knife.

[aggiesal]

40. Pendejo45 was given 10 days extra to submit. ...

I don't believe this is a delay tactic, but just stupid people not knowing how to file read & paperwork correctly.

Since the Underwriter has to submit "... a current financial statement." , I wonder if Pendejo45 had to do the same? If so, I'd like to see that.

[republianmushroom]

48. Yup

[underpants]

2. Oh it's Knight's financials. Maybe they should repo some more cars

from people they gave loans knowing full well they wouldn’t be able to pay them off.


Knight repo’s about 250 cars a day.
https://www.democraticunderground.com/100218832175

[Probatim]

8. They were fined for preying on service members.

Only the best people...

[underpants]

18. I'll bet so.

We couldn’t have cars when I was stationed in Germany until about the last year I was there. Growing up near a lot of military you’d see lots of really young guys with bright flashy cars who looked like military. Young guys away from home probably little or no credit AND no real living expenses (lodging and food for free) so they’d splurge on a car. Aside from DUI’s, they forget to pay or spend all their money elsewhere.

[AllaN01Bear]

24. when is the court ging to get trump towers . i wanna se part of it a homless , battered women ,

low income shelter.

[Think. Again.]

3. The deadline is still the deadline though, right?

[Bluethroughu]

6. I wish, they will give this bafoon time to lay out his finacial capibilities to prove he can bond.

[onenote]

19. He's not required to file his financials with the bond. It's the surety company's financial statement that's missing

[gab13by13]

29. Yup, that's in the link,

Maybe Knight and Axos bank don't want publicity?

[Bluethroughu]

68. That's the buffoon I'm referring to.

[ProudMNDemocrat]

4. Looks like AG Tish James can start seizing assets?

April 5th is the deadline for the $175 million dollar bond in order to appeal the to be paid to the Court.

The Court is in charge and Judge Engoron should issue orders for assets to be seized for the $454 million in question.

[Think. Again.]

12. That's a question I have...

....is the April 5 deadline still in place?

[onenote]

20. She won't because it would just piss off the judge.

She can't just start seizing assets. She needs to follow court processes. And the procedural error of not including the surety's financial statements will be corrected and when it is, Engoron will accept it "nunc pro tunc" -- "now for then". That's how these sorts of things are regularly handled.

[azureblue]

25. and I bet he doesn't

have enough assets to back up the bond.
Which creates another delay. Or maybe seize Trump's assets until he comes up with the bond?

[triron]

30. There's more going on here. It's nefarious. Just wait.

[onenote]

49. Huh? The risk of his not having enough assets to back up the bond is a risk taken by the surety.

The surety is on the hook for $175 million if Trump loses his appeal and doesn't timely pay the judgment. Whether or not the surety obtain sufficient collateral to cover its obligation is the surety's concern.

The corrected bond filing already has been submitted to the court.
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=exguJEXpWSu8fdl09aJOjw==

[thucythucy]

63. So what if the surety doesn't have the funds to cover the risk?

My impression is that's wnat the concern is here.

Trump loses his appeal. He defaults on the bond.

The State of New York goes to the insurer who says, "Oops, we don't have the money either!"

So then what happens?

I think the court is asking the insurer to provide proof it can indeed cover this if Trump loses and defaults.

Otherwise the plaintiffs--in this case New York taxpayers--get stiffed again.

[Hugin]

36. That seems reasonable for her to do.

Inexperience in these matters forcing me to do the color commentary.

I can see this going one of two ways, Biff.

1. Knight Specialties' papers are as messed up as Trump's papers causing their submission to be a heaping pile of spaghetti. Which could cause a delay as the Court sorts through the financials to see if they are indeed qualified to post the Bond on Trump's behalf.

2. Since one of Knight Specialties' specialties is "capture" and "capture-to-rent" insurance entities. ( sometimes used to insure the uninsurable ) The papers submitted would be pristine, but largely hogwash as to the real financial status of who and where the underwriters of the Bond funds are and if they even actually exist. I guess captures are the equivalent of shell companies or can be used that way.

That said, I think the DA and Court have the people who can figure this out.

[Bluethroughu]

5. Broke nillionaires eveywhere unite, in your narcissistic folly.

When the law applies to all, truth and justice is restored.

What billionaire wants to put up their financial record for trump??? We shall see.

[liberal N proud]

7. He got the bond from a loan shark

Nothing wrong with that.

All the billionaires get their money from loan sharks.

[mwb970]

9. What is he hiding now?

[obamanut2012]

22. That the bond funds backer is not really solvent, probably

[magicarpet]

33. Dis guy,...

... the backer of the $175M trDUMPie appeal bond.

?si=VuuVxZy1hgipx4Sv

[Johonny]

10. He has paid over 100 million in legal fees

And has lawyers that can't correctly fill out paperwork . . .

[gab13by13]

11. Correction

Not one nickel of Trump's money paid for his legal fees.

[Irish_Dem]

13. Either on purpose or they don't care if anything is done correctly.

A multibillion dollar company has attorneys who know how to fill out paperwork or can find out.

[Justice matters.]

65. They filed a ONE-HUNDRED-SEVENTY-FIVE MILLLLION$$$$$ bond...

WITHOUT even daring to provide A FINANCIAL STATEMENT?!?

The stoopid, it boggles the mind!

[Irish_Dem]

66. I think it is on purpose. They are yanking the court around.

[twodogsbarking]

14. Thank you and have a great day. That was nice. Please and thank you. Extra nice.

[hay rick]

15. Trump involved in a scam? Imagine that.

[Turbineguy]

28. He's trying to screw DJT founders

out of their shares.

Trump is always shady.

[Fiendish Thingy]

16. Big question: is the 10 day clock ticking?

Is the 10 day clock still ticking until James can seize assets, or has it been stopped pending these “corrections” in the paperwork?

[onenote]

21. See post #20

[Emile]

17. So can they confiscate his jet now?

[Botany]

27. So Trump and his sleazy businesses want to get their needed bond money from a sleazy used car ....

….. repo business that sells car loans sub prime to people that the repo business knows they can
not pay back the loan and then they repo the car and sell it again to another sucker. However both
sides paperwork did not pass muster when the Supreme Court of New York State looked it over
and the bond is now in doubt. Come tomorrow please let A.G. James start seizing Trump’s assets,
money, and property.

Do I have that right?

Botany =

[triron]

32. Remember that we're dealing with an inept system.

[Backseat Driver]

42. Bait and switch written right into the small print...

"...that sells home loans sub prime to people that the repo business knows (or fixes things--recall a 10% or more unemployment rate?) they can not pay back the loan (because Countrywide's subprime lender did not need to apply funds to the credit of the "owner" ) and then they repo lots of those homes and sell them again to another sucker...so often one could not find the titles--musical one-time homeowners and banks getting a bailout from the rest of the taxpayers

Sounds somewhat like the mortgage CDO tranche scamming...If they can do it with homes, vehicles should be a junkyard snap!

There was also this insider trading thing? https://www.democraticunderground.com/100218833088

[onenote]

50. You don't have it quite right. The bond is not in doubt.

The court didn't reject it. It returned it to correct an error. In other words, the court didn't view the error as fatal. And the corrected bond filing has now been submitted to the court.

Folks have read too much into this, helped along by the typically shitty reporting from Raw Story and Newsweek and the opinions of some so-called "experts" who apparently don't know squat about what is or isn't required with a bond filing and thus assumed that Trump was being required to submit a financial statement.

Link to corrected submission: https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=exguJEXpWSu8fdl09aJOjw==

[Botany]

52. Thanks

Although I don’t know if Trump and company along with the repo business and it’s owner
are going to want to share their financial statements because they are so dirty. Or it might
have been one more delaying tactic.

[onenote]

53. The bond company has filed the required financial statement

It's available at the link in my prior post.

[gab13by13]

34. It doesn't have to do with ineptness

I think it has to do with Hankey's ties to Axos bank. Axos bank is a small internet bank that has loaned Trump hundreds of millions of dollars when other major banks would not go near Trump.

Hankey doesn't want a light shined on his money laundering business.

Copilot
Don Hankey, the billionaire executive, is associated with both Axos Bank and Hankey Group. Let’s delve into the details:

Axos Bank:
Don Hankey is one of the largest non-institutional investors in Axos Bank1.
He holds 6% of the company’s shares234.
Axos Bank is an internet bank that provides various financial services.

[TBF]

38. So basically Hankey is another Trump - super shady. nt

[AverageOldGuy]

43. Russian money

And . . . CNN and MSNBC are reporting on. Guardian article revealing that one ( two ?) of the guys who fronted Trump the money for his social media site have pleaded guilty to money laundering, moving $$ from Russia to US to Trump. Am I ever shocked and surprised!!!

[onenote]

51. The corrected filing, with financial statement, was submitted today.

https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=exguJEXpWSu8fdl09aJOjw==

[Prairie_Seagull]

35. I don't know if the court will even allow for a bond guarantor

to put up a bond.

[gab13by13]

37. It is not a coincidence that

Hankey has ties to Axos bank, the small internet bank that has loaned Trump hundreds of millions of dollars.

I heard it or read it somewhere, I cannot remember where, that about a year ago Trump moved some of his money to a small bank in San Diego. Hmm.

[marble falls]

41. All this is about is whether the Sheriff starts auctioning Trump Tower or not. And if he gets to appeal or not.

[AverageOldGuy]

45. I'll bid on the gold toilet

Put it on my front yard and plant petunias in it.

[DENVERPOPS]

62. Anyone who knows anything

would have to handle it with a Level One Bio-Hazard Hazmat suit......Same for the plumbers who had to "remove" it......

A bunch of us were siting around and we were talking about who has the worst job ever.......I won with "cleaning" Trump's bathroom every day, and cleaning his toilet in particular...

[onenote]

46. It doesn't affect his right to appeal

He can appeal whether or not he posts a bond. If he doesn't post a bond, the judgment can be executed on even while the appeal is ongoing, but if his appeal is successful, in whole or in part, Carroll would have to pay Trump back, which would be a giant pain in the ass for her.

[Sogo]

44. Were they given a deadline to re-file?

Otherwise it becomes another avenue of delay....

[onenote]

47. What does it actually delay?

It doesn't impact the timing of the appeal. And the corrected filing almost certainly would be submitted long before James could try to seize Trump's assets in satisfaction of the judgment, so she's unlikely to even start that process.

[malaise]

55. Please explain justification of surety

Thanks

[onenote]

56. Justification for what?

Incomplete filing? There is no "justification" but courts routinely give filers an opportunity to correct errors in their filings where they aren't jurisdictional in nature.

[malaise]

57. I heard one of the media folks saying there are questions related to

Justification of surety with this insurance company.

[onenote]

58. From what I can tell, the initial filing may have contained a limited financial statement dated April 1

that only covered a particular subsidiary. The re-filed version included both that financial statement and a "consolidated" financial statement dated April 3 that shows more extensive assets.
See pages 7 and 8 of the filing. https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=exguJEXpWSu8fdl09aJOjw==

[malaise]

64. Thanks

[malaise]

54. So lock him up

That is all

[onetexan]

60. Seize his assets, starting w more liquidables

[Hassler]

67. So much winning for America's Biggest Loser

[Jarqui]

69. New York Attorney General Questions Trump's $175 Million Bond Deal

Letitia James said in court papers that the California company providing the guarantee was not qualified to do such deals in New York.
https://www.nytimes.com/2024/04/04/nyregion/letitia-james-trump-bond-deal.html
I was investigating whether they were authorized for NY state and this popped

Here's her letter
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=9D3mQkJiuAAkENF/mpz_PLUS_FQ==

I don't blame her one bit.

This has to be completely locked down or Trump will turn it into a legal dispute and tie the money up for a decade.

AG James is also digging into the Weisselberg plea and it appears (from my speed read) she thinks Trump or someone didn't disclose documents/info when they should have and she may still not have those documents.
She's a pretty sharp lady

[triron]

70. So now what?

[Jarqui]

71. They'll probably have a hearing according to the reports

The court apparently rejected due to lack of financials and power of attorney.
Those faults appear to have been corrected on the docket today.

But AG James has other concerns
https://www.nytimes.com/2024/04/04/nyregion/letitia-james-trump-bond-deal.html

the judge in the case, Arthur F. Engoron, has tentatively scheduled a hearing for April 22 to discuss the bond.

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.

Even if Knight lacks the funds itself, the company should be able to tap the collateral Mr. Trump pledged.

I have not been able to see AG James late filing of today that the reporter of the article seems to have seen