Donald Trump secured a temporary halt on the collection of over $454 million he owes in a New York civil fraud case by posting a $175 million bond. This move, confirmed by a court filing, prevents the seizure of his assets by the state as he appeals the judgment. The bond acts as a guarantee for payment if the appeal fails, with Trump required to pay the full amount plus interest. His lawyer expressed confidence in overturning the “unjust verdict” on appeal.
The requirement for the bond was reduced after Trump’s legal team argued the impossibility of securing an underwriter for the original amount. Knight Specialty Insurance underwrote the bond, using both cash and bonds as collateral. Trump’s ongoing appeal challenges a February 16 decision finding that he misrepresented his wealth on financial statements, a charge he denies.
The appeal, set for a September hearing, falls near the presidential race’s climax. Trump’s significant legal debts include more than $97 million for cases involving E. Jean Carroll and substantial legal fees related to other lawsuits. Trump’s financial strategies include maintaining cash for his presidential campaign and potential asset liquidation from his social media company shares, subject to a six-month lock-up period.
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