Trump Posts $92 Million Bond to Delay Payment to E. Jean Carroll

Former President Donald Trump has posted a bond to prevent E. Jean Carroll from immediately collecting $83.3 million awarded to her in a defamation lawsuit against him. This move comes just three days before the deadline for Trump to provide the actual cash.

Temporary Relief Amidst Legal Battle

The bond, totaling $91.63 million to include mandatory interest and fees, grants Trump temporary respite as he appeals the defamation judgment. Without this bond, Carroll’s legal team could have pursued Trump’s assets once the deadline passed.

Understanding the Bond Agreement

Trump reached an agreement with the Federal Insurance Co. (Chubb), providing collateral to ensure the availability of funds if his appeals fail and the judgment is enforced. While specifics of the deal remain undisclosed, Trump agreed to the terms on Tuesday, as per court documents filed on Friday.

Financial Implications

Chubb likely charged Trump an additional premium, estimated between $250,000 and $1 million, for issuing the bond. Due to the bond’s size and public attention, few insurers may have been willing to underwrite it.

Legal Ramifications

With the bond in place, US District Judge Lewis Kaplan can temporarily halt Carroll’s collection efforts. However, the funds remain inaccessible to Trump until the appeals process concludes, accruing interest in a designated bank account.

Ongoing Legal Battles

Trump’s legal team continues to challenge the defamation verdict, citing errors in trial proceedings and disputing the damages awarded. Despite the bond, Trump faces significant legal hurdles, including a separate judgment in a civil fraud lawsuit filed by the New York attorney general.

Conclusion

Trump’s posting of a $92 million bond represents a strategic maneuver in his legal battle against E. Jean Carroll’s defamation lawsuit. While it provides temporary relief, Trump’s financial and legal challenges persist, underscoring the complexity of his legal entanglements.