Shortly after New York Attorney General Letitia James filed a letter asking the New York Supreme Court to "Not consider" that the $464 million bond former President Donald Trump needs to post to keep his assets from being seized is a "Practical impossibility," the court ordered her to remove it.
In the original letter, Ms. James had asked the court not to accept the testimonies of a Trump attorney and broker who detailed the efforts they'd gone through in trying to obtain a $464 million bond, claiming they were unreliable sources.
The attorney general had argued that these affidavits still didn't provide enough information on why the defendants had been turned down, suggesting that Trump Organization assets aren't as valuable as the defense claims.
How Much Cash? After these negotiations, the defense found that a $464 million bond would require about $557 million in cash, on top of any operating expenses to continue The Trump Organization, because sureties require about 120 percent as collateral, plus additional premiums.
The judgment total is $363 million, with about $355 million of that specifically applying to President Trump, $4 million to be recovered from Eric Trump, $4 million to be recovered from Donald Trump Jr., and $1 million to be recovered from Allen Weisselberg.
With the applied 9 percent interest, court filings say the bond comes out to more than $464 million, with a little more than $10 million of that attributed to judgment on Eric Trump, Donald Trump Jr., and Allen Weisselberg.
"The Attorney General cites no New York case law to support this contention." The case indeed puts The Trump Organization in uncharted territory; the appeals court has put a temporary stay on the judgment orders that would prohibit Eric Trump and Donald Trump Jr. from continuing to run the company, but it may lift the administrative stay after ruling on present motions.
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