Appeals Court: Trump Must Come Up With Full Amount

CNN reports:

Former President Donald Trump must come up with the full bond amount to cover the $454 million verdict in the civil fraud trial, an appeals court judge ruled Wednesday. Associate Justice Anil Singh, however, lifted a ban on Trump’s ability to obtain loans from a New York bank, which could allow him to access the equity in his assets to back the full bond amount.

Singh also denied Trump’s request to delay his obligation to post $454 million until his appeal of the civil fraud verdict is over. Trump’s attorneys had offered to post a $100 million bond, about one-fourth owed, to go toward the judgment, saying they can’t access the capital market to raise money because of the ban on obtaining loans.

Reuters reports:

In their filing with the Appellate Division, Trump’s lawyers said a stay of Engoron’s decision was needed because Trump would suffer “irreparable harm” if James were free to sell his real estate assets to raise capital to pay the judgment. The lawyers also said the “exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond.”

They said a $100 million bond, together with Trump’s “vast” real estate holdings and ongoing oversight by the court-designated monitor for the Trump Organization, would be more than sufficient to secure the judgment. In a separate filing, James opposed a stay, calling it “especially inappropriate” given the defendants “all but concede” that Trump does not have enough liquid assets to satisfy the judgment.

Trump must come up with the full bond amount to cover the $454 million civil fraud trial judgment, appeals court judge rules

The judge denied Trump’s request to delay his obligation to post $454 million until his appeal of the civil fraud verdict is overhttps://t.co/TeQEqTBa1c

— Alayna Treene (@alaynatreene) February 28, 2024