Overview

• New York Attorney General Letitia James has filed a motion to void a $175 million bond posted by Donald Trump, questioning the insurer’s financial stability and legal authorization to operate in New York.
• The bond was intended to secure Trump’s appeal against a $354 million judgment in a civil fraud case, where he was found guilty of inflating asset values.
• Knight Specialty Insurance Company, the insurer, is reported to have a policyholder surplus of only $138 million, far less than the bond amount.
• James’s office argues that the insurer, not authorized to write business in New York, exposes Trump to significant financial and legal risks.
• A hearing on this matter is scheduled for Monday, coinciding with Trump’s criminal trial in New York.