Former United States President Donald Trump is at risk of losing his golf courses if he does not obtain a $175 million bond, and it doesn’t sound likely that a bond will be approved before his assets start getting seized – including his prized golf courses.
As former federal prosecutor Eric Lisann explained on social media, Knight Specialty Insurance – which is providing the bond for Donald Trump – does not actually have enough liquid cash to provide assurance that it can cover the bond.
As a result, it sounds like New York Attorney General Letitia James could begin seizing Trump’s assets.
Looks like there is a real possibility that this Don Hankey-owned Knight Specialty Insurance does not itself have liquidity, and did not get from Trump collateral, sufficient to provide legally cognizable assurance that it can pay $175 million on demand in the event of a… https://t.co/eYZvceZBPT
— Eric Lisann (@EricLisann) April 5, 2024
“Looks like there is a real possibility that this Don Hankey-owned Knight Specialty Insurance does not itself have liquidity, and did not get from Trump collateral, sufficient to provide legally cognizable assurance that it can pay $175 million on demand in the event of a judgement-affirming appeal. Thus NY AG James looks to be soon greenlit to executing on her $450 million judgement against Trump as if Trump posted no bond,” Lisann said in a post on X, the social media website that was formerly known as Twitter.
If Trump’s $175 million bond is not approved and he can’t provide cash, James can begin seizing Trump’s assets that were found to have had “fraudulent” and “misleading” values. James has already taken the initial steps toward seizing Trump National Golf Course in Briarcliff Manor.
Needless to say, this is pretty horrible news for Trump.
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