In a significant legal victory for former President Donald Trump, a New York judge ruled on Monday that his $175 million bond will remain valid, rejecting efforts by New York Attorney General Letitia James to have it voided. The ruling marks a setback for James, who has frequently clashed legally with Trump.
This legal drama unfolded when Letitia James questioned the legitimacy of the bond posted by Trump to appeal a civil fraud case verdict. The bond was issued by Knight Specialty Insurance Company (KSIC), a California-based insurer, which James argued was not authorized to operate in New York.
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Moreover, concerns were raised by James regarding KSIC’s financial capacity to back the substantial bond amount. In a detailed 26-page filing, her office cited that KSIC’s policyholder surplus was considerably less than the bond amount, suggesting potential insolvency risk if the bond was to be called upon.
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