A New York state appeals court has handed Donald Trump a hard-fought, albeit limited, victory in his battle against the civil fraud judgment. A panel of state judges unanimously decided to drastically reduce the bond the former president must post to $175 million while his appeals process plays out.
The 11th hour decision brings a step back from the staggering $464 million bond he was originally mandated to pay on Monday by the lower court judge. Donald Trump and his legal team had frantically argued that coming up with collateral equalling over half a billion dollars was “a practical impossibility” that could force him into prematurely liquidating assets at “fire sale” prices.
By slashing that hugely onerous bond requirement down to $175 million for now, the appeals court has thrown Trump’s struggling legal defense a crucial lifeline. He can put up the reduced security within the 10-day window and temporarily block New York Attorney General Letitia James from enforcing the full judgment against him while higher appeals are pending.
“I greatly respect the decision of the appellate division and I’ll post the $175 million in cash or bonds or security or whatever is necessary very quickly within the 10 days,” Trump told reporters, clearly relieved after leaving a separate court hearing. “I thank the appellate division for acting quickly.”
For the 77-year-old Republican, the ruling buys precious time and liquidity as he launches a multi-front counter-offensive against James and the scathing findings that he grossly inflated asset values for years to enrich himself, his family, and his business empire.
One of Trump’s attorneys, Alina Habba, hailed it as “the first important step in fighting back” against the Democrat’s “targeted witch hunt.”
James’ office, however, has remained outwardly unfazed, maintaining in a statement that “Donald Trump is still facing accountability for his staggering fraud” and that the reduced bond provides no absolution from the $464 million penalty “plus interest” that “still stands.”
