In late February, a single appeals court judge denied that motion but offered Trump an expedited briefing schedule to present his case to a full panel of judges before James began collecting on the judgment.
“Defendants’ ongoing diligent efforts have proven that a bond in the judgment's full amount is ‘a practical impossibility,’” they filed March 18. These thorough efforts have included engaging 30 surety companies through 4 brokers.”
They said their efforts showed that “obtaining an appeal bond in the full amount” of the verdict is impossible under the circumstances.” Their petition stated that most bond firms “will only accept cash or cash equivalents (such as marketable securities)” as security, not “hard assets such as real estate”.
Trump's attorneys asked the appeals court to let the defendants avoid posting security during the appeal process because his "real estate holdings — including iconic properties like 40 Wall Street, Doral Miami, and Mar-a-Lago, — greatly exceed the amount of the judgment" and could be used to pay off the judgment.
Hankey, who told Forbes he's backed Trump's campaigns, joined soon after. He told News he'd watching Trump's bond issues and "let it be known to an acquaintance of mine" with ties to Trump that the big bond was something he could "consider."
He said the Appellate Division decreased the bail amount to $175 million and given Trump 10 days to come up with it on his second day of negotiations with a Trump Organization lawyer. Thursday was the deadline.
"When the bond was reduced, we thought they could cover the damages themselves and didn’t think we’d hear back from them again, but they called us back" a few days later, he added. The company said it would collateralize the full amount with cash and bonds after swift conversations. Hankey said its final investment appeared to be cash.
His role was not political. "We've done bonds in the past, but this is a large size for us — and everyone," he said. "This is our job," he remarked. "I'll do this for a Republican or Democrat.
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