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...Its chief executive later explained the company had done so through “the ordinary course of its surety business and is acting as a neutral party”....
...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...” for a valid surety in New York....
...Trump’s legal team said on Monday that the Trump Organization had approached 30 surety companies — including Allianz, Axa, Berkshire Hathaway, Chubb, Munich Re, Swiss Re and Zurich — via four separate brokers...
...A surety bond serves like a bank letter of credit. It guarantees that a defendant can pay a legal judgment if appeals do not succeed....
...In October, the company said in filings to a Virginia regulator that it was experiencing “significant load growth due to data centre development” and that growing power demands presented a “challenge”....
..., had twice subpoenaed “documents related to McKinsey & Company”, in 2020 and 2021....
...Going by altitude alone is not the safest predictor of snow-surety, though. Climatic conditions can have a sizeable impact....
...Equitrans is a joint owner and operator of the controversial 303-mile Mountain Valley Pipeline project, which would deliver gas from West Virginia to more populous Virginia....
...But the Trump Organization is a private company, and it is almost impossible to verify his claims....
...They said that in their efforts to secure the larger bond they had approached 30 surety companies — including Allianz, Axa, Berkshire Hathaway, Chubb, Munich Re, Swiss Re and Zurich — via four separate brokers...
...A servicing company placed the loan on watch for possible default — although the Trumps have remained current on their payments....
...Meanwhile, West Virginia is co-leading 10 red states in litigation against the Securities and Exchange Commission, the US’s securities regulator, over rules that would require companies to disclose some...
...Indivior is based in Virginia and makes about 85 per cent of its sales in the US. In June 2023, it began trading with a secondary listing on the Nasdaq....
...Virginia, for example, is not a state renowned for massive natural catastrophes. But high winds and flooding have long been a feature....
...Unfortunately for Trump, it seems no lenders will provide him with the surety bond to cover his damages....
...Data centres in other states, such as Iowa and West Virginia, mentioned by Marietje Schaake, may serve as back-up....
...Before New York attorney-general Letitia James more than halved the original bond, Trump’s lawyers said 30 surety companies refused to underwrite such a large amount....
...“For the American and European supply chains to be built, you need a surety built by the government,” said Matthew Ashley, senior cobalt trader at Traxys, a Luxembourg-based trading house....
...“I’m proud to have stayed with President Trump on this one,” he told West Virginia radio station MetroNews in March. SIG’s investments in China go beyond ByteDance....
...Dominion Energy, active in data centre-heavy Virginia, has pointed to 9GW of potential new gas-fired capacity to help with reliability....
...lawyer for the attorney-general’s office, argued that the former president could piece together a series of smaller bonds, or use his real estate portfolio to secure bank credit that could then back a surety...
...The confirmation came after reports of the talks prompted sharp moves in both companies’ shares on Friday....
...West Virginia was the first state to target BlackRock and other financial firms deemed to boycott fossil fuel companies....
...US lender Capital One is nearing a deal to buy rival Discover Financial, according to two people familiar with the matter, in a tie-up that would unite two of America’s largest credit card companies....
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