The insurance company that provided the bond for Donald Trump‘s $91.6 million bond in the E. Jean Carroll defamation case has just 60 days to pay the entire amount if the former president loses his appeal.
Trump had to post the entire $83.3 million a jury awarded Carroll in her defamation lawsuit as a condition of appeal. The figure comes with 9 percent annual interest, which will be returned to Trump if he wins his appeal.
As is normal practice, Trump used an insurance company to pay the money. In this case, he went with the Federal Insurance Company, a subsidiary of Chubb Insurance.
Writing in her Civil Discourse blog, Vance said that the 60-day payment deadline was unusual.
If Trump loses his appeal and doesn’t pay the money, “Chubb must tender the full amount. They can collect from Trump in turn, but doing that would be their problem,” Vance wrote.
_____________
Related:
What Idiot Backed Trump’s Bond in E. Jean Carroll Trial? This One.
https://breakingnewsandreligion.online/2024/03/09/what-idiot-backed-trumps-bond-in-e-jean-carroll-trial-this-one/