Bond of $454m Cannot be Posted by Trump, Lawyers say.
By Halimat
In a court filing at a New York appeals court, Former President Donald Trump’s lawyers have expressed that Trump faces challenges in posting a bond that would cover the full amount of the $454 million civil fraud judgment against him.
The filing indicates that securing the necessary bond has proven to be extremely difficult, despite diligent efforts that involved approaching around 30 surety companies through four different brokers and engaging in negotiations with a major insurance company.
Trump’s lawyers argue that obtaining an appeal bond equivalent to the full amount of the judgment is not possible under the presented circumstances. The judgment, including interest, reaches $456.8 million, and obtaining a bond would require Trump and his co-defendants to post collateral valued at $557 million.
The lawyers have requested a delay in posting the bond until the appeal process is over, highlighting that the value of Trump’s properties exceeds the judgment. The appeal stems from a civil fraud case brought by the New York Attorney General, in which Trump was ordered to pay $355 million in disgorgement.
It is important to note that the judgment appeal process can be lengthy, potentially spanning several years. Trump’s legal team has already posted a bond of $91.6 million in a separate defamation case, indicating their willingness to comply with the appeal process.
The outcome of the appeal and the resolution of the civil fraud case will determine the final obligations and legal consequences for Donald Trump and his co-defendants.
ALSO READ: A World Where Nigeria’s Diplomacy is a Void
Discover more from Campus News
Subscribe to get the latest posts sent to your email.

