A New York appeals court has blocked the collection of Donald Trump's fraud judgment, ruling that he has 10 days to post a $175 million bond.

Donald Trump was supposed to have to post a $464 million bond by Monday or else the state of New York could begin collecting on the massive civil fraud judgment leveled against him earlier this year. An appeals court bailed him out, blocking collection of the judgment and giving the former president 10 days to post a drastically reduced $175 million bond.

The order is a huge win for Trump, whose assets were going to be subject to seizure if he couldn’t post nearly half-a-billion dollars by Monday. His lawyers said last week he wasn’t going to be able to come up with the money after 30 underwriters rejected him. The New York Times has reported that Trump is expected to be able to scrounge the new, reduced $175 million bond

  • bostonbananarama@lemmy.world
    131·
    7 months ago

    I can’t say I’m surprised by this, and while I hate Trump, it’s not for the cynical reason. It’s going to be quite the nightmare unwinding those transactions. My understanding is that NY doesn’t have a right of redemption after a Sheriff’s sale. While this is judicious, I would prefer Trump be given no quarter.