“But the Trumpian part is that even though, or perhaps because, it may be part of a Trump scam, Knight now too may be on the hook for $175 million as it won’t automatically get out from underneath its own proffered surety.”
Hankey, a billionaire, has already said that his company will be able to post the money for Trump.
He was reacting to a comment on X by lawyer Dave Kingman, who wrote that Knight will not be able to post the $175 million.
“Understand that Knight Specialty has a problem. This bond cannot be approved. Under the CPLR [Civil Practice Laws and Rules] the surety will remain obligated under the bond until a replacement bond is filed. Trump is unlikely to get a replacement bond. Knight Spec will be liable AND Trump won’t have a stay [on enforcement],” he wrote.
Shit, he offered to put in 475, but while on the call to set it up, trumps lawyers found out they got it lowered to 175, and told Hankey he was no longer needed.
Then had to go back for the 175 because no one legit would even know that.
It’s very possible trumps lawyers knew a bond wouldn’t work, but knew by the time that was found out, Hankey was on the hook.
It’s a lot easier for trump to avoid paying Hankey than the government.