Former President Donald Trump’s legal team filed an appeal against the $83 million defamation verdict awarded to writer E. Jean Carroll. To prevent Carroll from collecting the award while the appeal is pending, Trump’s attorneys have also secured a $91 million bond. The source of this bond, issued by the Federal Insurance Company, remains undisclosed in terms of the amount or collateral provided by Trump. Despite previous requests for extensions and reductions in the bond amount, the filing came unexpectedly. This legal move is aimed at halting the collection process that Carroll could have initiated, given the judgment’s interest accrual at New York’s 9% annual rate.
This development follows Trump’s attempt to delay the payment after being ordered to pay for defaming Carroll during his presidency and facing a separate $5 million judgment against him last year, which he is also appealing. The urgency of posting the bond was highlighted as the automatic stay on the judgment was nearing its expiration. U.S. District Judge Lewis Kaplan criticized Trump for his last-minute efforts to secure a bond, attributing the delay to Trump’s own actions.
Simultaneously, Trump confronts a larger financial challenge in New York state court, where he was recently fined $464 million in a civil fraud case.
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
