A New York appeals court agreed to slash millions off of the bond Donald Trump must post to cover a $454 million civil fraud verdict while he appeals it, reducing it to $175 million after the real estate mogul claimed he’d have to sell properties at a loss to raise cash.
The ruling Monday comes on the day Trump faced a deadline to either pay the fine or post a bond for 120% of the judgment to put it on hold while he appeals. That would have amounted to nearly $545 million dollars. He has 10 days to post the bond, the court ruled.
The decision means Trump may be able to push ahead with his appeal without the risk of his assets being seized by New York Attorney General Letitia James for lack of payment. The appeals court did not offer any explanation behind their decision.
Read the order. There’s more. This is a huge win for Trump.
They don’t call him Teflon Don for nothing.