- Joined
- Oct 4, 2020
- Messages
- 8,953
- Reaction score
- 19,887
Wow.... so now Letitia James has filed to challeng the surety for the 175M bond posted by Knight's Specialty insurance, because they don't actually satisfy the requirements for a surety!
Apparently, NY law requires that the amount promised can not comprise over 10% of the surety company's liquid funds (cash surplus), and it turns out that the Trump bond would be about 30% of their actual revenue. *(and something like 130% of available liquidity).
Knights Specialty Insurance doesn't have the capital (overleveraged) and doesn't meet standards to be a surety.
So, that failure to supply financial statements, was entirely intentional. What a bunch of nitwits.
So, I believe that this will reset the 10 days grace (I don't see why it should, but that's what I heard)....after that ...seizure of assets...likely going to be a bunch of whining on UnTruth social tonight.
The parent company of Knights Specialty Insurance is huge, worth billions, but only Knights was listed on the surety.. so were they hoping to sneak one past the netminder, and then when Donnie defaults fold up tent?
Pretty sketchy shit.
Nice try libtard! This is obviously fake news
Because as everybody knows, the party of Law & Order will never cheat the system
and exploit its loopholes. right?.. right?.... anyone?