In a recent development, former President Donald Trump has obtained a $91.6 million bond to delay the immediate enforcement of an $83.3 million defamation verdict in the E. Jean Carroll case. Carroll, a magazine writer, accused Trump of rape in the 1990s, leading to a federal jury’s substantial defamation verdict against Trump in January.
The bond, which exceeds the verdict amount to cover interest, was confirmed by Trump in court papers on Friday. This move comes a day after Judge Lewis Kaplan rejected Trump’s request to extend the deadline for posting the bond. Trump is currently appealing the verdict, and the bond, arranged with Federal Insurance Co., ensures payment to Carroll if Trump loses the appeal.
The defamatory remarks in question were made by Trump in 2019, denying Carroll’s rape accusation, along with repeated verbal attacks during the trial. The bond prevents Carroll from collecting the judgment during the appeal, safeguarding Trump’s assets and bank accounts. However, it guarantees payment to Carroll if appellate courts uphold the defamation verdict.
Federal Insurance Co., a division of Chubb, is the private company involved in the arrangement. The collateral pledged by Trump to secure the bond is not immediately clear. Trump had previously put $5.5 million in a trust account while appealing another defamation verdict in a separate suit filed by Carroll.
This development coincides with Trump’s efforts to secure a similar bond to cover a $454 million judgment imposed on him and his children in a separate fraud case filed by New York Attorney General Tish James. Trump’s lawyers are seeking a reduction in the bond amount, arguing that obtaining a bond exceeding half a billion dollars is impractical. The decision on this matter is pending, with a state court panel expected to rule before a March 25 deadline.
This news highlights the legal complexities surrounding Trump as he navigates multiple high-stakes legal battles, involving substantial financial liabilities and ongoing appeals.
COMMENTS