The $ 175 million bond Trump posted in the NY civil case has many questions raised about it.
In a nutshell:
"The insurer does not have a license to issue bonds in New York or have the necessary certificate of qualification from the state Department of Financial Services, which are required by New York insurance law.
Knight Specialty admits that it only had $138 million in surplus capital in an April 4 filing. New York law prohibits a company from providing a bond to a single borrower that amounts to more than 10 percent of its surplus capital, which would require the company to have $1.75 billion in surplus to cover Trump's bond.
It is unknown if the parent company of Knight Specialty has adequate capitalization.
Trump's latest set of filings "doesn't address" the concerns with the bond, Gregory Germain, a Syracuse University College of Law professor, told Salon. The notion that the former president's "reimbursement obligation to the insurance company," that he alleges is secured in the account, sufficiently satisfies the bonding requirement is "simply incorrect," he said."