Court agrees to block collection of Trump's massive civil fraud judgment if he puts up $175M
Court agrees to block collection of Trump's massive civil fraud judgment if he puts up $175M
If former President Donald Trump posts the money, it will prevent the state from seizing his assets while he appeals.
The ex-president’s lawyers have said underwriters wanted 120% of the judgment and wouldn’t accept real estate as collateral. That would mean tying up over $557 million in cash, stocks and other liquid assets, and Trump’s company needs some left over to run the business, his attorneys have said.
They asked an appeals court to freeze collection without his posting a bond. The attorney general’s office objected, saying he hadn’t explored every option for covering the amount.
The appeals court “chose a middle ground” by still requiring Trump to put up money but lowering the amount, Naftalis said.