Yeah, that makes no sense whatsoever. It’s like they’re being rewarded for their incompetence.
this article from daily beast spells things out a bit.
The aggressive move by AG Letitia James came after Knight Specialty Insurance Company—a relatively unknown entity with tangential political connections to the former president—was forced to reveal its finances.
Lawyers for the law enforcement office made a court filing that “hereby takes exception to the sufficiency of the surety,” noting that KSIC is trying to operate “without a certificate of qualification.” Under New York law, state regulators have certain standards to ensure that an insurer is “solvent, responsible and otherwise qualified to make policies or contracts of the kind required.”
The AG has given Trump and his rescuers 10 days to, as government lawyers put it, “justify the surety.”
What’s more, the additional scrutiny has called into question whether this insurance company even has enough money to meet the capital requirements for posting the bond.
of course trump would use a dodgy company.
He may have to use such a company at this point.
This doesn’t delay the actual appeal though and he will probably lose the appeal. This other stuff is in the background
So this 10 days has nothing to do with the botched form? Because it sure sounds like they’re getting 10 extra days just to submit the form correctly.
yes, they have an extra 10 days. the original “get in the money” clock was up today. the correction request happened yest.
sooooo, april 14 or 15?
It’s not really botched. The government has requested additional information.
Maybe a 10 day delay is worth it to see a financial statement where the money’s coming from.
Or to see if there is in fact any money there.
That too.
“If you guys fuck up one more time, we’re going to drop the charges! Is that what you want?”
No, Your Honor
–Alina Habba
Ha ha! 
Corrected filing, with financials and POA (8pp PDF)
This is all just to make sure that the bond company can pay NY. They don’t give a shit if Trump makes good to them.
Maybe not
I’m sure I’m speaking for the entirety of the Straight Dope community when I express my shock and dismay that such a scandalous state of affairs exsits for our former president.
From the article:
- the company only has 138 million in surplus, and would have to spend 127 percent of its reserves in order to cover the bond
- this is not allowed under NY law, which governs companies offering surities.
- but wait! The company president says they don’t have to follow this law, since the company is not a NY insurer, so the state of NY can’t regulate them.
- but hold on now! The AG office is saying that this company needs a certificate of qualification to offer these bond services in the state!
So the company is trying to have it both ways;
"We’re not allowed to do bond service in this state, so therefore you can’t regulate the bond service that we just provided to Trump, and so therefore it does not matter that we don’t have the money to cover the bond. " THIS APPEARS TO BE INSANE TO ME.
What the actual fuck.
But what about all that cash and stuff that Trump supposedly put up to back the bond? Huh? Huh?
Don’t tell me it didn’t really happen?!?
Mr. Hankey-Pankey: “We have this 127% of stuff, AND this stack of Bibles.”