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Tuesday, April 16, 2024

Trump Arranges $91.6M Bond to Attraction Carroll Verdict

The decide didn’t rule on Trump’s request for a delay. On Friday he gave Carroll till Monday to file any opposition to the “kind, quantity or surety of the proposed bond” and mentioned he would maintain a listening to the identical day on any dispute.

The bond doc, signed by Trump and his legal professionals on March 5, didn’t embrace particulars on how a lot money or different property he might have posted as collateral.

However a current court docket submitting by Trump in his enchantment of the New York civil fraud verdict mentioned he has an array of properties within the state that can be utilized to pay that verdict if his problem fails, together with 40 Wall Road, Trump Tower, Trump Nationwide Golf Membership Hudson Valley and Trump Park Avenue.

Trump has requested the appeals court docket to let him put up a bond of $100 million within the civil fraud case, arguing that 110% of the complete verdict would harm his funds.

Money Crunch

The 2 verdicts far exceed the roughly $400 million in money Trump has testified he has, elevating questions on how he would cowl the awards whereas he challenges them. He’s additionally searching for to place the civil fraud judgment on maintain, telling an appeals court docket the decision may pressure him to promote properties at a loss. He has requested to put up a smaller bond in that case.

Decide Kaplan, who oversaw the Carroll trial, issued a quick order Thursday night time criticizing Trump’s legal professionals for taking too lengthy to file their request to delay the decision. The decide was unmoved by Trump’s arguments about potential monetary pressure.

“Mr. Trump’s present state of affairs is a results of his personal dilatory actions,” the decide mentioned. “He has had since January 26 to prepare his funds with the data that he would possibly must bond this judgment, but he waited till 25 days after the jury verdict” to hunt the keep.

The award, levied by a jury of seven males and two ladies, consists of $18.3 million in compensation for hurt prompted to Carroll’s repute plus $65 million in punitive damages to penalize Trump and deter him from participating in any future defamation.

The case is Carroll v. Trump, 20-cv-7311, US District Court docket, Southern District of New York (Manhattan).

(Credit score: Bloomberg)

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