New York Judge Arthur Engoron decided to allow President Donald Trump’s $175 million bond to stand that he posted for his civil trial.
Knight Specialty Insurance posted the bond.
Engoron placed new conditions on Trump and the company, though:
- 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.
Attorney General Letitia James wanted Engoron to void the bond. The original amount was $454 million. James’ team tried to spin the decision as a win for them, claiming Trump “has conceded to the Attorney General’s demands to resolve concerns related to the bond.”
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