In a shocker, Judge Engoron has accepted Trump’s massive bond that he paid earlier this month despite NY AG Letitia James trying to up end the process claiming Trump’s insurance company couldn’t cover the bond.
James wanted Engoron to cancel the bond and issue a new one, forcing Trump back to square one on finding an insurance company.
Here’s more from Axios:
New York Judge Arthur Engoron on Monday accepted the $175 million bond former President Trump posted to appeal his civil fraud case, but the judge imposed several new conditions to ensure sufficient cash funds remain available.
Approving the bond for the appeal will prevent New York Attorney General Letitia James from seizing Trump’s assets or freezing his bank accounts while he fights the judgment.
While Engoron allowed the bond to stand, Trump and Knight Specialty Insurance Company agreed to meet several new requirements, per a spokesperson from the New York State Attorney General’s office.
These include that Knight Specialty Insurance Company will retain “exclusive control” of the $175 million account, and the company and Trump will provide a monthly account statement certifying that there are sufficient cash funds for the bond.
Knight Specialty Insurance Company has agreed to designate an agent of process in New York.
The agreement between the company and Trump also can’t be amended without court approval.