A New York appeals court has agreed to hold off collection of former President Donald Trump’s more than $454 million civil fraud judgment — if he puts up $175 million within 10 days.
If Trump does, it will stop the clock on collection and prevent the state from seizing his assets while he appeals.
Monday’s order is a significant victory for Trump as the presumptive Republican nominee defends the real estate empire that vaulted him into public life. The development came just before New York Attorney General Letitia James was expected to initiate efforts to collect the judgment.
Trump’s lawyers had pleaded for a state appeals court to halt collection, claiming it was “a practical impossibility” to get an underwriter to sign off on a bond for such a large sum.
Last week, Donald Trump’s lawyers told a New York appellate court that it’s impossible for the former president to post a bond covering the full amount of his $454-million civil fraud judgment while he appeals.
A state appeals court judge ruled last month that Trump must post a bond covering the full amount to pause enforcement of the judgment, which is to begin on March 25.
With interest, Trump owes $456.8 million. In all, he and co-defendants including his company and top executives owe $467.3 million. To obtain a bond, they would be required to post collateral worth $557 million, Trump’s lawyers said.
- Harvey Weinstein hospitalized after return to jail following rape conviction overturn
- Belarus opposition leader warns of Russia’s threat: ‘We know dictatorship’
- Canada is unblocking aid to Afghanistan but delay is ‘extremely frustrating’: advocate
- ‘Hiroshima-level casualties’ feared in final battle for North Darfur
Comments