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Insurance Company Places Massive Bet on Trump’s Defamation Appeal Bond

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Somehow, Donald Trump always makes news headlines. If you’ve been following the recent political drama in the United States, you’ll know that the Republican frontrunner for the 2024 elections is currently facing four criminal charges. However, Trump has insisted that the charges brought against him were false and has even secured an appeal bond of $92 million for one of them.

He obtained the supersedeas bond from the Virginia-based Federal Insurance Company. But the big question is, “Is the company sure that Trump will win the appeal?” Also, which assets did Trump use to secure that amount of money? Read on as we bring you all the facts we have on this story.

Understanding The Appeal Bond

Whenever an appellant is not satisfied with the judgment of a lower court, they can appeal the lower court’s ruling to a higher court. If approved, the appellant is required to pay some money to the lower court, the appeal bond, while awaiting the new judgment.

Source: AP Photo/Seth Wenig, Pool

The value of the appeal or supersedeas bond usually equals the amount the losing party is supposed to pay plus some interest.

The Importance Of The Appeal Bond

If the losing party who is asked to pay a judgment after a court ruling files for an appeal, they are not compelled to pay the money until the appeal process is over. This is to protect the interest of the winning party in case the appellant goes bankrupt during the appeal and eventually loses it.

Source: Unsplash/Saúl Bucio

Additionally, the bond helps to protect frivolous appeal attempts while showing the appellant’s commitment to the final ruling, whether it favors them or not.

Judge Lewis Kaplan Approved The Case

Earlier in March, Judge Lewis Kaplan issued an order that approved Donald Trump’s demand. The order read thus, “Enforcement of the Judgment, to the extent that the Judgment awards damages, is STAYED pending the final disposition of the appeal by the United States Court of Appeals for the Second Circuit.”

Source: Wikimedia/Administrative Office of the United States Courts

The appeal could last for more than a year, but if it fails, E. Jean Carroll will be paid according to the initial judgment.

Where The Battle Started

Carroll had filed a lawsuit against Trump, which claimed that he had raped her in the dressing room of Bergdorf Goodman back in the 1990s.

Source: AP Photo/Brittainy Newman

The Jury concluded that Trump sexually abused her but didn’t rape her and awarded Carroll a total of $5 million for the charges.

Another Victory

After her sexual abuse charges in 2019, Carroll filed another charge against Trump that he had defamed her while denying her allegation that he had sexually abused her.

Source: X/politvidchannel

In January, the former president was ordered to pay $83.3 million in damages to her.

About Jean Carroll

E. Jean Carroll, a former Elle Magazine columnist, filed her lawsuit under the new Adult Survivors Act. The Act allowed adult sex assault victims to file their claims irrespective of how far back it had happened.

Source: Reuters/Craig Ruttle

Carroll expressed her joy at her victory in the lawsuit. She said, “Today, the world finally knows the truth. This victory is not just for me but for every woman who has suffered because she was not believed.”

Fake Story, Or Not?

Trump has come out to say that the sexual abuse charges against him were not true. He said that Carroll was “not my type” and that she was “totally lying.”

Source: YouTube/MSNBC

On the day after Trump secured the $92 million bond, he said, “I just posted a $91 million bond — 91 million on a fake story, totally made-up story … based on false accusations made about me by a woman that I knew nothing about.” He also told his supporters that he doesn’t know Carroll and has never heard of her.

There Was Also A Notice Of Appeal

When Trump filed a notice of appeal of the court ruling to the U.S. Court of Appeals for the Second Circuit, he had two options for continuing the appeal.

Source: Shutterstock/create jobs 51

He could either pay the judgment or post a bond equal to the judgment’s full amount.

The Appeal Bond

The judgment in the defamation case against Trump was that he would pay Carroll about $83 million, including interest in damages.

Source: Abcnews

Trump obtained a bond totaling $91,630,000 to cover these costs.

How Did Trump Secure The Bond?

Not much is known about how Trump got the bond from the Insurance company, but many people have expressed that the bond carries a potential financial risk – and for good reason.

Source: AFP

For one, there are claims that the former president has overstated his financial status.  He has a lot of legal and financial troubles as a result of his multiple civil cases.

Once Bitten, Never Shy

The recent $92 million appeal is not the only one Trump has made. Trump is also appealing the $5 million judgment that was issued against him in May 2023 concerning Carroll’s sexual abuse charges.

Source: GADO

This implies that Carroll has had two legal victories against Trump.

Trump And His Attorney Are Quite Confident Of Victory

Alina Habba, Trump’s attorney, has said they are quite confident that the appeal will overturn the lower court’s judgment “due to the numerous prejudicial errors made at the lower level.”

Source: Wikimedia/Gage Skidmore

On the flip side, Carroll’s attorneys seem to be confident too. In fact, they encouraged the judge to approve Trump’s $92 million bond against her. However, there was the caveat that there should be a reduction in the time between the finalization of Trump’s appeal and their client’s payment.

What’s Next? Fingers Crossed

Nobody knows what the result of the appeal’s judgment will be, but everyone is watching. In fact, Carroll’s attorney has said they are carefully monitoring Trump to see if he’ll still make the kind of derogatory statement that landed him in court.

Source: Wikimedia/Gage Skidmore

Also, when asked if Trump would defame her again, Carroll said, “I can’t be confident about anything Donald Trump does.” So, let’s all keep our fingers crossed and see how this story ends.

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Mary Scrantin

Written by Mary Scrantin

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