New York attorney general says appeals court should ignore Trump’s claim that bail is impossible

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By journalsofus.com




cnn

New York Attorney General Letitia James’ office has rejected Donald Trump’s claim that he cannot find an insurance company to back his $464 million bail in the civil fraud case, telling a court state appeals committee that should ignore the argument.

“The defendants here had no reason to wait for your response to raise their allegations and arguments regarding the difficulty of obtaining bail, since their efforts to obtain that bail began before their motion for stay was filed and, in fact, even before for the sentence to be handed down.” the state’s attorneys wrote.

Trump’s lawyers said Monday that it was nearly impossible for Trump to obtain bail after 30 insurance companies rejected it. They told the appeals court that insurers wanted cash or stock as collateral worth about $500 million and would not accept real estate as collateral.

Trump has until Monday to post bail unless the appeals court grants his motion to delay payment of the money until after the appeal is heard.

The attorney general’s office says Trump should try to get insurance companies to band together to underwrite the bond or better explain deficiencies in his negotiations.

“However, defendants provide no documentary evidence demonstrating precisely what real estate they offered to the guarantors, under what terms those assets were offered, or precisely why the guarantors were unwilling to accept the assets,” the court wrote. attorney general’s office.

“As far as the Court can infer, the guarantors may have refused to accept the defendants’ specific properties as collateral because use of Mr. Trump’s real estate will generally require ‘a property appraisal’… and their properties will not “They are as valuable as the defendants claim.” added the attorney general.

The attorney general’s office criticized the affidavits from Trump’s insurance broker, Gary Giulietti, and Alan Garten, the Trump Organization’s top lawyer, as unreliable.

They argue that Trump should have revealed that Giulietti, who has been a friend of Trump for decades, testified in the civil fraud trial and the judge did not find it credible. Garten, they argued, is also unreliable because he has a stake in the outcome.

They also offered a suggestion: turn over the properties to the judge.

“If the defendants truly could not offer a compromise, at a minimum they should have consented to the Supreme Court retaining their real estate interests to satisfy the judgment…. or otherwise would have given security over holdings of real estate with sufficient value to guarantee payment of the entire judgment.”

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