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re: Appeals Court Cuts bond to 175 Million and extends time to pay(10 Days)
Posted on 3/25/24 at 10:53 am to TDTOM
Posted on 3/25/24 at 10:53 am to TDTOM
If he buys a bond, I think he's out that - cost of litigation. If he posts the entire thing himself and wins the appeal, he should get that back (but I'm not studied on whatever jurisdictional nuances are in this particular court).
That's how bonds are supposed to work, anyway, but in this case the bond is too damn high, so what do I know?
That's how bonds are supposed to work, anyway, but in this case the bond is too damn high, so what do I know?
2
Posted on 3/25/24 at 10:55 am to Ace Midnight
quote:
If he buys a bond,
Isn't the cost of the bond typically 10% or so of the value? Pretty sure that is how bail bonds work.
This post was edited on 3/25/24 at 10:56 am
Posted on 3/25/24 at 5:43 pm to Ace Midnight
My experience with litigation bonds is that the surety posts the bond in exchange for a premium. The bond is secured by an equal amount of assets.
Reportedly, Trump has $500M liquid (that’s before considering this truth social thing I saw just now). So he could basically hold that aside as security for the bonding co. Litigation bonds are usually 10-15 percent premium. So if he posts security of $175M, his premium would be $17.5 M - $20 M. $200M is half his liquidity. Which I think is fair to say would add to his 8th Amendment / Access to Court arguments he already has based on the size of the bond alone.
If it gets reversed on appeal, Letitita (NY Taxpayers) can be responsible for his litigation costs/costs of appeal, since it’s a “civil” :rolleyes” judgment. So theoretically the state of NY would owe his bond premium back to him. Plus he gets his security (the $175 M) back.
I hope he seizes Letitia’s house for the bond premium in payment for a judgment on a 1983 suit.
Because frick her.
Reportedly, Trump has $500M liquid (that’s before considering this truth social thing I saw just now). So he could basically hold that aside as security for the bonding co. Litigation bonds are usually 10-15 percent premium. So if he posts security of $175M, his premium would be $17.5 M - $20 M. $200M is half his liquidity. Which I think is fair to say would add to his 8th Amendment / Access to Court arguments he already has based on the size of the bond alone.
If it gets reversed on appeal, Letitita (NY Taxpayers) can be responsible for his litigation costs/costs of appeal, since it’s a “civil” :rolleyes” judgment. So theoretically the state of NY would owe his bond premium back to him. Plus he gets his security (the $175 M) back.
I hope he seizes Letitia’s house for the bond premium in payment for a judgment on a 1983 suit.
Because frick her.
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