“In the unusual circumstance that a bond of this size is issued, it is provided to the largest public companies in the world, not to individuals or privately held businesses,” the attorneys added.
“Countless hours negotiating with one of the largest insurance companies in the world,” Mr. Trump’s team said, were spent in vain.
Additionally, they stated that only cash or “cash equivalents,” such as investments that may be promptly liquidated, would be accepted as security by bond issuers instead of “hard assets, such as real estate.”
But his expenses go beyond the $464 million judgment. After losing a slander lawsuit against E. Jean Carroll, a woman he was determined to have sexually assaulted, he was forced to pay $83 million in January. In that instance, he has already posted a bond.
If he fails to pay the fraud penalty, the attorney general of New York has threatened to take his assets.
Until he pays, the penalty will continue to accrue interest at a rate of at least $112,000 every day.
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