Trump’s lawyers argued that the former president is unable to secure a bond for the judgment.
New York Attorney General Letitia James is pushing back on Donald Trump’s « extraordinary » request for a stay of his $464 million civil fraud judgment, arguing the former president’s recent request was unreliable, procedurally improper and based on a flawed premise.
« There is nothing unusual about even billion-dollar judgments being fully bonded on appeal, » Senior Assistant Solicitor General Dennis Fan said in a filing this morning. « Defendants object to a possible ‘fire sale’ if they were to sell assets to generate cash to use as collateral for a bond or as a deposit —but the alternative would be to shift the risk of executing on defendants’ illiquid assets to OAG. »
Earlier this week, Trump’s lawyers argued that the former president is unable to secure a bond for the judgment – having been rejected by over 30 insurance companies – due to its size and his need to post properties as collateral.
The AG argued that the former president has failed to demonstrate his effort to secure a bond using properties as collateral, suggesting the issue is a product of Trump’s doing because his « holdings are not nearly as valuable as defendants claim.
