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Chubb ended Trump fraud bond talks after backing E. Jean Carroll appeal bond, court filing says (www.cnbc.com)

submitted 2 years ago by MicroWave@lemmy.world to c/politics@lemmy.world

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KEY POINTS

Donald Trump and his co-defendants were in talks with insurance giant Chubb for a $464 million appeal bond, but the company backed out, a Trump Organization lawyer said.
Chubb previously provided Trump’s $91.6 million appeal bond in writer E. Jean Carroll’s civil defamation case.
In his New York civil business fraud case, Trump’s lawyers said they reached out unsuccessfully to more than 30 companies to secure a bond.
Those companies include Warren Buffett’s Berkshire Hathaway, Liberty Mutual, Allianz, Chubb and Travelers, among others.

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[-] Riccosuave@lemmy.world 49 points 2 years ago* (last edited 2 years ago)

I'm assuming they also required financials for these properties that show any mortgages or liens that are already attached to them. There is no way they would accept collateral that already has liabilities against them because they would not be able to seize them outright, and if a sale was forced that caused the property to sell for way below market value they might not recoup their funds. I see no way that any major financial institution is going to risk a half a billion dollars on Trump's behalf without a 100% guaranteed return on investment.

[-] FuglyDuck@lemmy.world 30 points 2 years ago* (last edited 2 years ago)

That too.

Also, “it’s just business”… seems kind of reasonable now.

Though I wouldn’t want trumps left over properties. You’ll never get the greasy shit stains out. Or the smell.

Edit: it occurs to me that one strategy rich fucks use for “earning” a living and avoiding cap gains taxes is taking loans using their assets as collateral- with real estate, taking extra mortgages out and using their rent income to pay interest.

So chances are solid most of, if not all of his properties are leveraged.

[-] Djtecha@lemm.ee 27 points 2 years ago

Could buy them at auction, to raze them and plant a small park. Just erase the asshole from our memory.

[-] Bridger@sh.itjust.works 28 points 2 years ago

The E. Jean Carroll park. I love it.

[-] vividspecter@lemm.ee 21 points 2 years ago

The E. Jean Carroll Immigration Celebration park

funded by Donald Trump, convicted rapist

[-] AbidanYre@lemmy.world 3 points 2 years ago

Remove his name entirely.

this post was submitted on 20 Mar 2024

135 points (96.6% liked)

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