Donald J. Trump on Friday posted a $91.6 million bond in a defamation case he just lately misplaced to the author E. Jean Carroll, staving off a possible authorized and monetary catastrophe simply days earlier than a deadline to safe the deal.
The bond, supplied by an outdoor insurance coverage firm, will forestall Ms. Carroll from gathering the judgment whereas Mr. Trump appeals.
A federal jury awarded Ms. Carroll $83.three million in January, and Mr. Trump just lately requested that the judgment be paused. The decide presiding over the case, Lewis A. Kaplan, denied Mr. Trump’s request for a preliminary reprieve, placing stress on Mr. Trump to both provide you with the cash himself or safe assist from an outdoor firm.
With a Monday deadline looming, Mr. Trump secured the bond, which is larger than the $83.three million judgment as a result of the previous president can also be chargeable for curiosity.
The bond is a promise from the corporate providing it — Federal Insurance coverage Firm, an arm of the insurance coverage large Chubb — to cowl Mr. Trump’s judgment if he loses his attraction and fails to pay. In alternate, Mr. Trump should pay the corporate a charge and pledge collateral, together with as a lot money as doable.
In a court docket submitting Friday morning, Mr. Trump’s lawyer, Alina Habba, requested Decide Kaplan to approve the bond as “sufficient and ample” to dam Ms. Carroll from gathering the award earlier than Mr. Trump’s attraction is set.
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