The source of the bond is the Federal Insurance Company, a corporation authorized to transact business in New York that’s a subsidiary of the Chubb Insurance Company. Posting it allowed Trump to appeal the verdict, which his lawyers did Friday.
“Due to the numerous prejudicial errors made at the lower level, we are highly confident that the Second Circuit will overturn this egregious judgment,” Trump attorney Alina Habba said in a statement.
Trump, who said in a deposition last year that he had “substantially in excess of $400 million in cash,” could technically deposit the full judgment against him, plus interest, as he challenges the judgment. But his lawyer has already said that he will secure a bond.
https://www.cnbc.com/2024/02/21/trump-faces-obstacles-to-securing-an-appeal-bond-in-fraud-case-.html
h/t Reaching
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