Specifically, prosecutors on Friday disputed that Mr. Trump maintained control of bank accounts with $175 million in cash that backed the bonds, and that the provider, Knight Specialty Insurance Company, had replaced Mr. Trump with $175 million in cash. He argued that he should be able to ensure that he has control over the funds. Do not exchange cash for other, more volatile collateral.
On Monday, in a lower Manhattan courtroom, Mr. Trump's lawyers assured the court that the bond would be backed by cash on hand throughout the appeals process. “These are all super safe investments,” said attorney Christopher Kise.
In the end, Trump's lawyers agreed to five concessions requested by the state, including making Knight the sole holder of the $175 million in cash, rather than a trust run by Trump.
Both sides have until Thursday to finalize the agreement.
knight, its owner Billionaire Trump supporter Don Hankey offered bail for Trump in the case after the former president's lawyers said in court that many other companies had refused to provide bond. proposed. The court initially required a full bond of more than $450 million, but the bond was reduced after Trump's lawyers argued in court that bond was impossible.
