Appeals Court Sides With Trump, Dramatically Reduces Bond in Civil Fraud Case
Trump has 10 days to put up $175 million bond.
An appeals court agreed Monday to reduce Trump’s civil fraud case bond while he appeals the ruling.
If Trump is able to put up the $175 million bond within 10 days, the court agreed to block collection of the judgment, according to the Associated Press. Trump initially faced a Monday deadline to pay the $454 million bond to cover the judgment issued by Judge Arthur Engoron.
Trump’s lawyers indicated in a court filing last week that he would not be able to post bond, writing that “very few bonding companies will consider a bond of anything approaching that magnitude.” His attorneys sought to stay the execution of the judgment.
In response, James argued Trump had not supplied evidence that he would be unable to pay.
“If defendants were truly unable to provide an undertaking, they at a minimum should have consented to have their real-estate interests held by Supreme Court to satisfy the judgment,” the filing stated.
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