New York
Trump’s $175 million bond in civil fraud judgment case is settled with cash promise
NEW YORK (AP) — New York state lawyers and an attorney for former President Donald Trump settled their differences Monday over a $175 million bond that Trump posted to block a large civil fraud judgment while he pursues appeals.
The agreement cut short a potential day-long court hearing in Manhattan that was to feature witnesses.
As part of a deal struck during a 20-minute recess, lawyers for Trump and Knight Specialty Insurance Company agreed to keep the $175 million in a cash account that will gain interest but faces no downside risk. The account so far has grown by over $700,000.
The bond stops the state from potentially seizing Trump’s assets to satisfy the more than $454 million that he owes after losing a court case brought by the Democratic attorney general. She had alleged that Trump, along with his company and key executives, defrauded bankers and insurers by lying about his wealth.
The ex-president and presumptive Republican nominee denies the claims and is appealing the judgment.
Judge Arthur Engoron, who in February issued the huge judgment after concluding that Trump and others had deceived banks and insurers by exaggerating his wealth on financial statements, presided over Monday’s hearing and at times was caught in a testy exchange with Trump attorney Christopher Kise.
Engoron challenged Kise with examples of how the money Trump had posted might not be available for collection if the judgment were upheld, leading Kise to respond in one instance that the judge’s “hypothetical is ... wildly speculative.”
At another point, Kise expressed frustration with the office of New York Attorney General Letitia James, saying: “It appears that no matter what we do they’re going to find fault with it.”
But Andrew Amer, an attorney for New York state, proposed settlement terms soon after he began speaking at the hearing. He said the state wanted extra assurances because Trump had raised the money with help from a relatively small out-of-state insurance company.
As part of the deal, Knight Specialty Insurance, a Wilmington, Delaware-based part of the Los Angeles-based Knight Insurance Group, will have exclusive control of the $175 million and will submit to the jurisdiction of the New York state court while agreeing not to move the money into mutual funds or other financial instruments.
Speaking to reporters in the hallway outside Trump’s separate criminal hush money trial, his attorney, Alina Habba, said Engoron “doesn’t even understand basic principles of finance.”
“We came to an agreement that everything would be the same, “ she said. “We would modify terms and that would be it.”
Trump also railed against Engoron, accusing him of not understanding the case.
“He challenged the bonding company that maybe the bonding company was no good. Well, they’re good. And they also have $175 million dollars of collateral -- my collateral,” he said.
Maine
Youth group, environmental organizations sue state for action on climate
PORTLAND, Maine (AP) — A youth organization and a pair of environmental groups are suing the state of Maine to try to force the state to reduce carbon emissions in the era of climate change.
Maine Youth Action, the Conservation Law Foundation and the Sierra Club filed their lawsuit on Friday in state court. The lawsuit says the Maine Department of Environmental Protection is under an “existing and ongoing statutory obligation” to reduce emissions and has failed to do so.
The lawsuit harkens back to a similar effort in Montana in which young environmentalists sued state officials for failing to do enough to protect them from climate change. Those activists scored a victory in August.
The Maine lawsuit says the state must enact new rules that cut emissions for cars and trucks to make good on promises made by the Maine Legislature.
“Our generation will inherit a state overwhelmed by carbon emissions and climate change – with damage to the environment, to marine life, and to our own health – if we can’t start making these changes now,” said Cole Cochrane, policy director of Maine Youth Action.
The Maine Department of Environmental Protection doesn’t comment on pending litigation, said David Madore, deputy commissioner of the agency.
The groups filing the lawsuit cited a climate plan released by the state that called for reductions in carbon emissions. Democratic Gov. Janet Mills and the Maine Legislature created the Maine Climate Council in 2019 to help reach the state’s climate goals.
The council’s plan calls for the state to decrease greenhouse gas emissions by 45% by 2030. Mills, who has made environmental protection a key piece of her time in office, said at the time that the goals were “ambitious, and they will not be achieved overnight, but we cannot and will not shy away from hard work to protect our state for future generations.”
The groups filing the lawsuit said progress on the climate plan has been too slow going. They cited the fact environmental regulators in the state decided in March not to adopt new standards to expand the use of electric cars.
The lawsuit states that the groups want the court to rule that Maine violated state law by failing to adopt the clean cars rules. It says the state must pass the rule “or an alternative rule that reduces emissions from the transportation sector” by Nov. 1.
Washington
Supreme Court allows soccer promoter’s antitrust suit over FIFA policy to proceed
WASHINGTON (AP) — The Supreme Court on Monday allowed a soccer promoter’s antitrust lawsuit to go forward against FIFA and the U.S. Soccer Federation over the world governing body’s policy of not permitting a country to host league matches involving teams from other countries.
The high court order leaves in a place a federal appeals court ruling in favor of Relevent Sports, controlled by Miami Dolphins owner Stephen Ross.
Relevent sued in 2019 after FIFA disrupted its plan to host a Spanish league match between Barcelona and Girona at Miami Gardens, Florida, and the USSF refused permission to sanction a league match between two teams from Ecuador.
A district court dismissed the lawsuit, but a three-judge panel of the 2nd U.S. Circuit Court of Appeals unanimously reinstated it. The Biden administration weighed in on Relevent’s side at the Supreme Court.
Relevent and FIFA reached an agreement this month to drop FIFA from the suit, a deal that the USSF wants to review and that has not yet been approved by U.S. District Judge Valerie E. Caproni. FIFA, the USSF and Relevent lawyer Jeffrey L. Kessler did not immediately respond to requests for comment Monday.
Trump’s $175 million bond in civil fraud judgment case is settled with cash promise
NEW YORK (AP) — New York state lawyers and an attorney for former President Donald Trump settled their differences Monday over a $175 million bond that Trump posted to block a large civil fraud judgment while he pursues appeals.
The agreement cut short a potential day-long court hearing in Manhattan that was to feature witnesses.
As part of a deal struck during a 20-minute recess, lawyers for Trump and Knight Specialty Insurance Company agreed to keep the $175 million in a cash account that will gain interest but faces no downside risk. The account so far has grown by over $700,000.
The bond stops the state from potentially seizing Trump’s assets to satisfy the more than $454 million that he owes after losing a court case brought by the Democratic attorney general. She had alleged that Trump, along with his company and key executives, defrauded bankers and insurers by lying about his wealth.
The ex-president and presumptive Republican nominee denies the claims and is appealing the judgment.
Judge Arthur Engoron, who in February issued the huge judgment after concluding that Trump and others had deceived banks and insurers by exaggerating his wealth on financial statements, presided over Monday’s hearing and at times was caught in a testy exchange with Trump attorney Christopher Kise.
Engoron challenged Kise with examples of how the money Trump had posted might not be available for collection if the judgment were upheld, leading Kise to respond in one instance that the judge’s “hypothetical is ... wildly speculative.”
At another point, Kise expressed frustration with the office of New York Attorney General Letitia James, saying: “It appears that no matter what we do they’re going to find fault with it.”
But Andrew Amer, an attorney for New York state, proposed settlement terms soon after he began speaking at the hearing. He said the state wanted extra assurances because Trump had raised the money with help from a relatively small out-of-state insurance company.
As part of the deal, Knight Specialty Insurance, a Wilmington, Delaware-based part of the Los Angeles-based Knight Insurance Group, will have exclusive control of the $175 million and will submit to the jurisdiction of the New York state court while agreeing not to move the money into mutual funds or other financial instruments.
Speaking to reporters in the hallway outside Trump’s separate criminal hush money trial, his attorney, Alina Habba, said Engoron “doesn’t even understand basic principles of finance.”
“We came to an agreement that everything would be the same, “ she said. “We would modify terms and that would be it.”
Trump also railed against Engoron, accusing him of not understanding the case.
“He challenged the bonding company that maybe the bonding company was no good. Well, they’re good. And they also have $175 million dollars of collateral -- my collateral,” he said.
Maine
Youth group, environmental organizations sue state for action on climate
PORTLAND, Maine (AP) — A youth organization and a pair of environmental groups are suing the state of Maine to try to force the state to reduce carbon emissions in the era of climate change.
Maine Youth Action, the Conservation Law Foundation and the Sierra Club filed their lawsuit on Friday in state court. The lawsuit says the Maine Department of Environmental Protection is under an “existing and ongoing statutory obligation” to reduce emissions and has failed to do so.
The lawsuit harkens back to a similar effort in Montana in which young environmentalists sued state officials for failing to do enough to protect them from climate change. Those activists scored a victory in August.
The Maine lawsuit says the state must enact new rules that cut emissions for cars and trucks to make good on promises made by the Maine Legislature.
“Our generation will inherit a state overwhelmed by carbon emissions and climate change – with damage to the environment, to marine life, and to our own health – if we can’t start making these changes now,” said Cole Cochrane, policy director of Maine Youth Action.
The Maine Department of Environmental Protection doesn’t comment on pending litigation, said David Madore, deputy commissioner of the agency.
The groups filing the lawsuit cited a climate plan released by the state that called for reductions in carbon emissions. Democratic Gov. Janet Mills and the Maine Legislature created the Maine Climate Council in 2019 to help reach the state’s climate goals.
The council’s plan calls for the state to decrease greenhouse gas emissions by 45% by 2030. Mills, who has made environmental protection a key piece of her time in office, said at the time that the goals were “ambitious, and they will not be achieved overnight, but we cannot and will not shy away from hard work to protect our state for future generations.”
The groups filing the lawsuit said progress on the climate plan has been too slow going. They cited the fact environmental regulators in the state decided in March not to adopt new standards to expand the use of electric cars.
The lawsuit states that the groups want the court to rule that Maine violated state law by failing to adopt the clean cars rules. It says the state must pass the rule “or an alternative rule that reduces emissions from the transportation sector” by Nov. 1.
Washington
Supreme Court allows soccer promoter’s antitrust suit over FIFA policy to proceed
WASHINGTON (AP) — The Supreme Court on Monday allowed a soccer promoter’s antitrust lawsuit to go forward against FIFA and the U.S. Soccer Federation over the world governing body’s policy of not permitting a country to host league matches involving teams from other countries.
The high court order leaves in a place a federal appeals court ruling in favor of Relevent Sports, controlled by Miami Dolphins owner Stephen Ross.
Relevent sued in 2019 after FIFA disrupted its plan to host a Spanish league match between Barcelona and Girona at Miami Gardens, Florida, and the USSF refused permission to sanction a league match between two teams from Ecuador.
A district court dismissed the lawsuit, but a three-judge panel of the 2nd U.S. Circuit Court of Appeals unanimously reinstated it. The Biden administration weighed in on Relevent’s side at the Supreme Court.
Relevent and FIFA reached an agreement this month to drop FIFA from the suit, a deal that the USSF wants to review and that has not yet been approved by U.S. District Judge Valerie E. Caproni. FIFA, the USSF and Relevent lawyer Jeffrey L. Kessler did not immediately respond to requests for comment Monday.
