'Unusual Provision' in Chubb's Donald Trump Bond Draws Scrutiny
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.
Joyce Vance, a former U.S. attorney in Alabama who was nominated by then-President Barack Obama and long-time Trump critic, has called the provision "unusual" in such contracts.
"There is an unusual provision in the bond that would give Chubb 60 days from the date final judgment is entered in Carroll's favor (if she wins on appeal) to make payment to her," Vance wrote.
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.
"This is good news for E. Jean Carroll because the bond guarantees that the judgment will be paid if she prevails on appeal."
Vance also noted that the judge gave Carroll's lawyers until Monday morning to file objections to the bond. He'll hold a hearing at 3 p.m. that same day if they do.
http://www.newsweek.com/donald-trump-jean-carroll-defamation-case-new-york-sexual-assault-bond-payment-1878018
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