Trump's Inadequate Bond: NY Prosecutors Challenge Night Specialty Insurance
FinanceInsuranceNY Prosecutors are challenging the legitimacy of Night Specialty Insurance as a surety for Trump's bond. With financial controversies and ties to Trump, the company faces scrutiny for non-compliance with bond requirements under New York law.
Financial Capacity Concerns
⚠️Night Specialty Insurance lacks financial capacity to meet bond requirements.
⚠️Founder of Night Specialty Insurance has ties to Trump and is involved in financial controversies.
⚠️NY Attorney General questions legitimacy of Night Specialty Insurance as a surety.
Compliance Issues
⚖️Non-compliance with bond justification requirements under New York law may lead to asset seizure.
⚖️Night Specialty Insurance lacks minimum thresholds, potentially affecting the validity of the bond.
Reserve Concerns
💰Specialty insurance company's reserves only at 138 million, while bond exceeds 127% of reserves.
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Legal Challenges
⚖️Excess line insurers criticized for violating New York laws with inadequate reserves.
⚖️Appellate Division reduces Trump's bond obligation, giving him extra days to post the required amount.
⚖️Trump relies on ally's company with insufficient surplus for posting the bond.
FAQ
What is the financial capacity of Night Specialty Insurance?
Night Specialty Insurance lacks the financial capacity to meet bond requirements.
Why is NY Attorney General questioning the legitimacy of Night Specialty Insurance?
The NY Attorney General questions the legitimacy of Night Specialty Insurance as a surety.
What compliance issues does Night Specialty Insurance face?
Non-compliance with bond justification requirements under New York law may lead to asset seizure.
What concerns are there about the reserves of the specialty insurance company?
Specialty insurance company's reserves are only at 138 million, while the bond exceeds 127% of reserves.
Why is Trump facing legal challenges with his bond?
Trump exploits grace period and engages in shenanigans to delay justifying the inadequate bond, causing more legal hurdles.
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NY Prosecutors are challenging the legitimacy of Night Specialty Insurance as a surety for Trump's bond. With financial controversies and ties to Trump, the company faces scrutiny for non-compliance with bond requirements under New York law.
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