Former President Donald Trump has successfully obtained a bond of $91,630,000 to cover the judgment in his defamation case filed by writer E. Jean Carroll.
According to a recent court filing, the former president has secured an appeals bond from the Federal Insurance Company in Virginia. The bond, worth a staggering $91,630,000, will cover the $83 million judgment in the case, along with any accrued interest.
On Friday, Trump took the necessary steps to appeal the judgment by filing a notice with the United States Court of Appeals for the Second Circuit. To proceed with the appeal, he must either pay the judgment or post a bond for the full amount.
In a recent court filing, President Trump’s attorney, Alina Habba, respectfully requested that the Court acknowledge and approve the supersedeas bond obtained by President Trump. The bond, totaling $91,630,000.00, is deemed adequate and sufficient to stay the enforcement of the Judgment, specifically in relation to the awarded damages, until President Trump’s appeal is ultimately resolved.
Habba expressed confidence in their appeal, stating that they believe it will lead to the overturning of the judgment.
Habba expressed strong confidence that the Second Circuit will overturn the unjust judgment due to the multiple prejudicial errors made at the lower level.
The bond conditions did not specify the assets that Trump used to secure the bond.
According to former federal prosecutor Josh Naftalis, Trump ensured that Carroll would be able to collect the judgment by posting a bond, in the event that the former president completes his appeal.
In January, the court directed the ex-president to compensate Carroll, a former Elle magazine columnist, with a sum of $83.3 million. This ruling came as a result of Carroll’s defamation lawsuit, where she accused him of sexually abusing her in the dressing room of a Manhattan department store during the 1990s. Trump vehemently denied these allegations, stating that Carroll was “completely lying” and that she was “not his type.” Despite his denial, the court found him responsible for the damages.
The judge in charge of the case rejected Trump’s plea for a temporary postponement of the penalties on Thursday.
According to Judge Lewis Kaplan’s order on Thursday, Mr. Trump finds himself in his current predicament due to his own procrastination. The judge pointed out that since January 26, he had ample time to sort out his finances in anticipation of the need to post a bond for the judgment. However, Mr. Trump chose to wait until 25 days after the jury verdict before filing his motion for an unsecured or partially secured stay pending the resolution of post-trial motions.
According to Kaplan, Trump did not effectively explain how the judgment could cause “irreparable harm” or provide evidence of the financial burden he would face by posting a bond in the case.
Judge Kaplan stated that the cost associated with continuing legal proceedings without a stay does not qualify as “irreparable injury” within the intended meaning of the term.
The judge acknowledged Trump’s bond on Friday but opted not to temporarily suspend the enforcement of the judgment pending appeal, pending input from Carroll.
The judge stated that if she disagrees with the arrangements, he will listen to oral arguments on Monday.
