CINEHIND

Breaking News

The second time in three months, a Nepali student commits suicide in the KIIT dorm in Bhubaneswar.

Trump Secures $91.6 Million Bond to Delay Payment in Defamation Case

Kalyani Jha
09 Mar, 2024

Former President Donald Trump has secured a $91.6 million bond to postpone paying the verdict in E. Jean Carroll’s defamation case while he appeals, resolving concerns about his ability to come up with the necessary funds amidst financial constraints. The bond, arranged by Chubb Ltd.’s Federal Insurance Co., surpasses the $83.3 million award issued against him by a New York jury in January, covering 110% of the verdict amount.

Trump, currently campaigning for a return to the White House amidst legal challenges, faces financial strain following two significant trial losses. In addition to the Carroll case, a judge recently ordered Trump to pay $454 million to New York state for inflating his net worth to obtain favorable loan terms.

In response, Trump has filed a notice of appeal in the Carroll case and requested a hold on the verdict during the appeal process, a move supported by posting the bond. His campaign spokesman, Steven Cheung, characterized the judgment as "baseless" and part of a "Democrat-funded Carroll Witch Hunt."

E. Jean Carroll accused Trump of raping her in the 1990s, leading to a defamation lawsuit after Trump dismissed her allegations. Trump contends that the verdict is likely to be reduced on appeal, arguing that Carroll’s reputation wasn’t as severely damaged as claimed and suggesting that her fame actually increased following his remarks.

Carroll’s lawyer, Roberta Kaplan, declined to comment on the bond arrangement. Meanwhile, Trump's request for a delay in posting the bond was met with opposition from Carroll's legal team, who criticized his delay tactics and questioned his financial credibility.

The bond document, signed by Trump and his lawyers, did not disclose the details of the collateral posted. However, Trump has cited an array of properties in New York that could be used to satisfy the judgments, including 40 Wall Street, Trump Tower, Trump National Golf Club Hudson Valley, and Trump Park Avenue.

Despite Trump's efforts to delay payment, Judge Kaplan expressed frustration with his legal team's procrastination and ultimately ordered a prompt resolution. The verdict includes compensation for harm to Carroll's reputation and punitive damages aimed at deterring Trump from future defamation.

As Trump navigates the legal challenges ahead, the bond serves as a temporary reprieve while the appeals process unfolds, underscoring the complex legal and financial ramifications of the ongoing litigation.