I thought the bond had to be in real live cash? As in not a lien or similar but the actual funds had to be posted in an escrow account of some sort?
Nope. Just a promise to pay, by a company with sufficient assets.
MeidasTouch covers this and more “rookie” mistakes that were made… like missing signatures and signatures in the wrong place.
https://youtu.be/8Tr_IuukTB8?t=200
My guess is that it has something to do with Trump trying to not part with money.
Or to be dishonest about money in some way.
That seems backwards. What stops Knight from just saying “Sorry, no money for you” after Trump loses the appeal? Does New York then have to sue them for the money?
This is one of those parts of the justice system and government in general that seems vulnerable to the “What if we just…don’t?” that pervades the Republican Party of late?
Knight’s business depends on people trusting it to come through when they make a claim against it. If it gets a reputation for not paying on its policies and bonds, it loses business.
I would also think that as a type of insurance company, there is a regulatory body that can step in if it breaches its contract, but that is speculation on my part.
I think the company (or person) has made a very explicit promise to a court. One that they cannot evade with years of litigation. I suspect this would be a slam dunk for the courts to go get that money if it ends up the bond needs to be paid off. Add in penalties for screwing around (possibly criminal). I doubt Hankey wants any part of that.
Good grief, can team trump get anything done properly?!
To quote ThelmaLou:
Misfiling isn’t a bug, it’s a feature.
Using the theory of ETTTTS (Everything Trump Touches Turns To Shit), I will predict that Mr. Hankey is going to be put under the microscope, and aspects of his business dealings will turn out to be liable for prosecution. Leading to bad, bad things for Mister Hankey.
Is it incredible prescience or just a coincidence that the character on South Park named “Mr Hankey” was literally a piece of shit?
ETA: I have a sneaking suspicion that the venerable real-life Mr. Hankey’s business in predatory subprime car loans may have inspired this character! Just a WAG, though.
I’m quite surprised to find lack of comment on updates to this case.
Timeline.
Bond posted. Perhaps funded by truth social value with such a bargain as 10c on the dollar.
27% fall in truth shares. As if insider trading.
Truth social network results revealed 2022 results had loan from fbi investigated russian linked offshore bank.
Trump sues truth social network CEOs.
Does the revealer of insider trading go to jail, or just those who act on the information?
Which might explain why Trump is doing the bond through Knight rather than just ponying up the cash himself (despite doing it through Knight costing him another $10m). He really does NOT want to have to put the details of his financial position into the public domain.
We’re going on 10 years of him saying he’ll release that information in a few weeks. Just as soon as this darn IRS audit is done.
From the NY Supreme Court notice:
“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.”
It seems the “current financial statement and Power of Attorney” that are needed are from Knight, not Trump.
One good thing: Once again retired judge Barbara Jones gets to review any surety bonds that the Trump Organization attempts to obtain, so at least someone competent should know whats going on.
I’m still unsure how this would delay matters with the court. When I was in school, if I were to submit an exam with half the answers unmarked, the prof wouldn’t return it and give me another chance to finish the work. How is this any different?
They fucked up the paperwork. They have until the deadline to submit it correctly.
The courts have been advised of the defendant’s litigious nature and access to significant resources: they are being very circumspect WRT the eggshells underfoot, to cinch down every possible avenue for appeal.
So UNFAIR!
ah, the ny ag is asking the bond underwriter to show it is financially able to ensure the bond.
they have 10 days to correct the filing.
And now Mister Hankey gets to do some financial disclosure to the court. I’m hoping this exposes additional shady business, and leads to a full MyPillow fiscal meltdown.
So, because they fucked up the filing Trump gets an extra 10 days on top of the 10-day extension he was already granted? Why should he be rewarded for this?