The MeidasTouch Podcast - MAJOR DEVELOPMENT in Trump Case over $91 MILLION Bond

Episode Date: March 9, 2024

MeidasTouch host Ben Meiselas reports on the latest development in Donald Trump’s attempt to post a bond on the E Jean Carroll defamation case. Go to https://boncharge.com/meidas and use coupon code MEIDAS to save 15% Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Learn more about your ad choices. Visit megaphone.fm/adchoices

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19 plus to wager. Ontario only. Please gamble responsibly. If you have questions or concerns about your gambling or someone close to you, With literally hours remaining before Donald Trump's assets and properties would be seized by E. Jean Carroll in the defamation case where Donald Trump was hit with an $83.3 million verdict. Donald Trump managed to post a supersedious bond in the amount of $91 million. He did not do it with his own cash. He needed a bonding company to basically bail him out here. He got a bond from a company called Federal Insurance Company. You may know that as the name it does business as, which is Chubb. I think a lot of questions are raising, why would you offer a supersedious bond in a case

with an adjudicated rapist like this, in a case involving defamation. But let me show you the filings and then let me explain to you the process here about how a supersedious bond works. But again, Donald Trump not posting his own $91 million. A company called Federal Insurance Company became the surety. They posted the bond on behalf of the principal here, Donald Trump. Donald Trump would have to basically pay a non-refundable premium secured by his assets. And ultimately, after the appeal, which Donald Trump also noticed as well to the Second Circuit, if Donald Trump did not make the payment of the $83.3 million with the post and pre-judgment interest, then Federal Insurance Company would be allowed to seize Donald Trump's assets. And they have obviously, as part of the deal, something secured with one of his properties or some other type of asset in order to do this. But Donald Trump did not post the cash himself.

And so all of that whining that Donald Trump did to federal judge Lewis Kaplan that he needed't want to even have to pay the non-refundable premium to ultimately secure the supersedious bond, which was posted. What that means is that the judgment now is stayed. E. Jean Carroll cannot seize his assets, cannot take over his properties, and now the case goes on appeal. But at the end of the day, if E. Jean Carroll prevails in the appeal, which we think she will, she'll be entitled to get that, you know, with post and prejudgment interest. $91 million will go right into her account from the bond that's now been posted.

And if Donald Trump ultimately doesn't put up the money, then Federal Insurance Company can seize Donald Trump's assets. That's the process that is currently taking place. So let's just take a look at what was filed. So first, there was a notice of appeal that was filed by Alina Haba and John Sauer. Notice is hereby given that defendant Donald Trump appeals to the United States Court of Appeals for the Second Circuit from judgment entered in this action dated February 8th. That's why we were just literally 24 hours away from these assets

being seized, awarding plaintiff compensatory and punitive damages totaling $83.3 million and from all adverse orders, rulings, decrees, decisions, opinions, memoranda, conclusions, findings of law leading to and merged with, including the final judgment by the Honorable United States District Judge Lewis Kaplan. Then another filing took place, and this was the declaration of Alina Haba, and this was the posting of the supersedious bond. And it's a declaration that Alina Haba says, I'm the managing partner of the Haba law firm in the above caption matter. I submit this declaration in support of the instant motion for an order recognizing the

supersedious bond obtained by Donald Trump in the amount of $91.6 million and approve it as conforming to the requirements in federal rule 62, which will stay the enforcement of the judgment if a bond that is, you know, equal to the judgment plus certain amount of interest is posted. And Alina Haba says and requests that this be approved as conforming to the requirements under the law. She goes on to say on February 8th, 2024, this court entered judgment awarding plaintiff damages in the amount of $83.3 million. Donald Trump filed a notice of appeal on March 8th, 2024. You just saw the notice of appeal. Pursuant to federal rule of civil procedure 62, Trump has obtained a supersedious bond issued by Federal Insurance Company in the sum of $91.6 million. A true and accurate copy of the supersedious bond

is annexed here too as Exhibit A. Federal rules of civil procedure provide the posting of a bond or other security to stay the execution of the judgment. Approval of the bond by this court is requisite to formalize stay enforcement as the bond secures Trump's monetary obligations under the judgment and serves as a guarantee for the satisfaction of the same. Trump respectfully requests that this court recognize the supersedious bond obtained by Donald Trump in the amount of $91.6 million and approve it as adequate and sufficient to stay the enforcement of the judgment. And that's signed by Alina Haba. Have you heard of Boncharge?

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And it would be secured by certain assets. And Donald Trump would have had to pay Chubb or Federal Insurance a non-refundable premium, perhaps around 10% or more, but usually around kind of 10% that Trump will never get back. And then of course, if the bond is, you know, ultimately at the end of the appeal process, federal insurance, the Surddy will get its total money back. And then it will have made the 10, in theory, it will have made the 10% non-refundable premium plus the full posted bond amount. That's why, you know, you would do this and then you would secure it usually by some assets. But with Trump, you know, he's

known to not pay and file lawsuits against all these entities. So, I mean, good luck with that. Then it just says known by all present here, defendant Donald Trump as principal and federal insurance company, a corporation authorized to transact business in the state of New York, are held and firmly bound onto plaintiff E. Jean Carroll in the maximum amount of $91.6 million for the payment of which, well and truly be made, we bind ourselves and our representatives and executors to, whereas the principal has petitioned and will petition the United States Court of Appeals for the Second Circuit. Now, therefore, the conditions of this obligation such that one, the judgment is vacated, reversed upon disposition of the appeal

by the Court of Appeals, or two, the appeal is withdrawn or dismissed and the principal pays and satisfies the judgment in full or three, the judgment is affirmed upon disposition of the appeal. Four, the judgment is modified upon the disposition of the appeal. It goes on to say that this bond and the obligations here under, you know, shall apply based on the respective terms. Notwithstanding anything set forth in the bond or the judgment that is or may be construed to the contrary, the maximum liability of the surety under the bond shall not exceed the maximum penal sum set forth above less any amounts paid by or on behalf of the principal to the obligee under the judgment or any modified judgment, regardless of the number of years this bond is enforced or the obligations or principal obligations under the judgment or any modified judgment. And then it gives the notices,

it gives Trump's address, and it gives the address of the surety. So an interesting development that Trump not posting his own cash, putting up this non-refundable amount that would be the premium, securing this bond. Interesting that the bonding company would provide this money and the implications around it, but wanted to give you that update. And so next, the question becomes with the New York Attorney General's civil fraud judgment there, we're talking about $464 million. Is Trump going to be able to get a surety bond there and have to put up the non-refundable premium amounts there, which would be significantly higher than here. So anyway,

we'll keep you updated as we learn more, but I wanted to give you those details. I'm Ben Myselis from the Midas Touch Network. Thanks for watching. Hey, Midas Mighty. Love this report? Continue the conversation by following us on Instagram at Midas Touch to keep up with the most important news of the day. What are you waiting for? Follow us now.