“But the Trumpian part is that even though, or perhaps because, it may be part of a Trump scam, Knight now too may be on the hook for $175 million as it won’t automatically get out from underneath its own proffered surety.”
Hankey, a billionaire, has already said that his company will be able to post the money for Trump.
He was reacting to a comment on X by lawyer Dave Kingman, who wrote that Knight will not be able to post the $175 million.
“Understand that Knight Specialty has a problem. This bond cannot be approved. Under the CPLR [Civil Practice Laws and Rules] the surety will remain obligated under the bond until a replacement bond is filed. Trump is unlikely to get a replacement bond. Knight Spec will be liable AND Trump won’t have a stay [on enforcement],” he wrote.
So this article speculating a lot and discussing a couple of people who were speculating and discussing on Xitter? Wow this is worthless…
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She was going to seize propert if no bond.
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This bond came in at the last second.
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A bunch of issues were found with the bond.
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A court ruled it’s not valid.
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For some reason that means they have to pay the bond in cash, and trump has to cover the rest of the original?
A court ruled it’s not valid.
Has this happened yet? all I’ve seen so far is the court asked the insurance co for more information, but no outright ruling on the validity.
A New York court has rejected Knight Specialty’s paperwork and said it wanted to see more information on its financial backing. The company filed new paperwork on April 4.
It’s my understanding that new paperwork didn’t help anything.
Like, one of the issues was they weren’t even licensed in NY, I don’t know how paperwork could retroactively make it legal.
But while they can’t promise to pay it under bond, they did sign something saying they were good for 175 million. And they don’t have it.
So trump failed to post bond, and now they can seize property.
I think
Shits confusing and trump just says anything to delay this stuff. But I think if Knight doesn’t cut a check for cash, they seize property up to what they couldn’t out of the 175 million. Or maybe somehow the whole amount because he couldn’t get the bond.
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Surely Hankey isn’t offering up $175 million on Trump’s behalf out of the goodness of his own heart. This is surely an investment where he can gain privileged access to the Trump administration if he gets into office again, maybe get some lucrative government contracts out of it.
Shit, he offered to put in 475, but while on the call to set it up, trumps lawyers found out they got it lowered to 175, and told Hankey he was no longer needed.
Then had to go back for the 175 because no one legit would even know that.
It’s very possible trumps lawyers knew a bond wouldn’t work, but knew by the time that was found out, Hankey was on the hook.
It’s a lot easier for trump to avoid paying Hankey than the government.