Responding to speculation by the conservative New York Post that Donald Trump would have to liquidate real estate assets to meet the $450M+ payment due as a result of his New York civil fraud trial defeat, one of Trump’s lawyers in the case, Alina Habba, said the former President would have “no issues” posting a bond while the case was appealed.
“There will be a bond,” Habba said, “and there will be no issues with that.”
Habba: There will be a bond and there will be no issues with that pic.twitter.com/WDaQSyyPZ2
— Acyn (@Acyn) February 20, 2024
Habba’s crystal ball was cloudy, however, and her assertion, which she repeats in a separate interview below, is proving incorrect, as the Trump Organization general counsel Alan Garten reveals that the “defendants have faced what have proven to be insurmountable difficulties in obtaining an appeal bond for the full $464 million.”
The second exhibit is an Affirmation Alan Garten, the General Counsel for Trump Org., DJT Holdings LLC, etc.
He says they’ve “devoted a substantial amount of time, money, and effort toward obtaining a bond for the Judgment…but have faced insurmountable difficulties.”
— Katie Phang (@KatiePhang) March 18, 2024
[NOTE: Insurance companies that issue such bonds don’t usually cover such large amounts, and also want cash or stock as collateral — not real estate, where the lion’s share of Trump’s wealth is stored. The filing notes that “a bond of this size is rarely, if ever, seen. 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.”]
Habba: Within 30 days, even if we choose to appeal this, which we will, we have to post the bond, which is the full amount and then some. We will be prepared to do that. pic.twitter.com/6zsDHB4LmR
— Acyn (@Acyn) February 19, 2024