Negotiations were underway to post a $557 million bond when an appeals court reduced the size of the judgment, according to one of the participants, billionaire Don Hankey.

Looks like it actually was possible to bond the whole amount.

Don Hankey, the billionaire chairman of Knight Insurance Group, told NBC News he was negotiating to post a far heftier bond of $557 million with the Trump Organization when the state Appellate Division lowered the size of the required bond to $175 million.

  • dhork@lemmy.worldEnglish
    8·
    3 months ago

    It’s interesting that he went and got the bond anyway, even though he had the cash to cover the full amount. The fee the bond company is charging is significant. I suspect the better financial decision would have been to just hand the cash over. Even in the unlikely event the judgement is vacated on appeal, the Court would give back the money and he’s just be out the interest he would have made.

    Also interesting the guy went and blabbed that they were in talks with Trump for the full amount. One of his justifications for getting it reduced was the idea that it would be impossible to get the full amount. But althat appeared to be yet another lie.