Less than a month after New York Attorney General Letitia James said she would be willing to seize former Republican President Donald Trump’s assets if he is unable to pay the $464 million required by last month’s judgment in his civil fraud case, Trump’s lawyers disclosed in court filings Monday that he had failed to secure a bond for the amount.

In the nearly 5,000-page filing, lawyers for Trump said it has proven a “practical impossibility” for Trump to secure a bond from any financial institutions in the state, as “about 30 surety companies” have refused to accept assets including real estate as collateral and have demanded cash and other liquid assets instead.

To get the institutions to agree to cover that $464 million judgment if Trump loses his appeal and fails to pay the state, he would have to pledge more than $550 million as collateral—“a sum he simply does not have,” reportedThe New York Times, despite his frequent boasting of his wealth and business prowess.

  • IphtashuFitz@lemmy.worldEnglish
    8·
    9 months ago

    Exactly. There is already one recent case where a lawyer filed a brief generated by an LLM. The judge is the one that discovered the cited cases were works of fiction created by the LLM and had no actual basis in law. To say that the lawyer looked foolish is putting it lightly…

    • Schadrach@lemmy.sdf.org
      51·
      9 months ago

      Right, but that’s not what we’re talking about here - we’re not saying “Hey LLM, write a convincing sounding legal argument for X”, we’re saying “Hey LLM, here’s a massive block of text, summarize what you can and give me references to places in the text that answer my questions so I can look at the actual text as part of building my own convincing sounding legal argument for X.”

      It’s the difference between doing a report on a topic by just quoting the Wikipedia article, versus using the Wikipedia article to get a list of useful sources on the topic.