Former United States President Donald Trump was set to potentially have one of his prestigious golf courses seized on Monday if he was unable to come up with $464 million to cover a judgment against him in a civil fraud trial. But after a court ruling, Trump will now have more time and will be able to put up significantly less money.
On Monday morning, the Appellate Division, First Department ruled that Donald Trump can post a bond “in the amount of $175 million” to cover the $464 million judgment while he appeals the decision. The panel of five judges also gave Trump 10 more days to come up with that $175 million.
“It is ordered that the motion is granted to the extent of staying enforcement of those portions of the Judgment (1) ordering disgorgement to the Attorney General of $464,576,230.62, conditioned on defendants-appellants posting, within ten (10) days of the date of this order, an undertaking in the amount of $175 million dollars,” the two-page order said.
Previously, Trump was set to potentially lose one of his golf courses if he was unable to come up with the $464 million on Monday. Trump and his lawyers claimed they had been unable to obtain a bond to cover the $464 million sum, leaving him open to have his assets seized by New York Attorney General Letitia James, who had already begun the process of seizing Trump National Golf Course in Briarcliff Manor.
Obviously, this is some pretty significant news from Trump as it buys him more time and lowers the amount he’d need to pay to keep his golf courses, and it led to a lot of reactions on social media.
CNN: A New York appeals court said Donald Trump has to post $175 million in 10 days to meet the terms of the $464 million civil fraud judgment, giving the former president a lifeline as he faced possible seizure of his prized real estate properties.
— Jim Acosta (@Acosta) March 25, 2024
BREAKING: Donald Trump's $454 million bond has been reduced to $175 million thanks to a New York appeals court ruling.
The ruling is a massive win for Trump, saving him from potential financial disaster.
The new bond will stop Attorney General Letitia James from collecting… pic.twitter.com/YhCaT3dPq6
— Collin Rugg (@CollinRugg) March 25, 2024
Donald Trump responds to the reduced bond of $175 million
@VaughHillyard reports he is “guaranteeing” he will pay within 10 days, but we still don’t “know how much liquid cash Donald Trump actually has at his disposal.” pic.twitter.com/lhcXH7ojHE
— MSNBC (@MSNBC) March 25, 2024
#BREAKING: A New York appeals court has reduced Donald Trump's bond from $454 million to $175 million
This decision gives him 10 days to secure the bond, protecting his bank accounts and properties from Attorney General Letitia James's collection efforts during his appeal pic.twitter.com/USxMBxvI9K
— Unlimited L's (@unlimited_ls) March 25, 2024
Breaking: Donald Trump will only need to pony up $175 million of his $454 million civil-fraud judgment while he appeals the full amount, a New York state appellate court ruled https://t.co/4j6iFdDBej https://t.co/4j6iFdDBej
— The Wall Street Journal (@WSJ) March 25, 2024
BREAKING: The New York State Court of Appeals makes a horrible decision and rules that Donald Trump does NOT have to come up with the full $464 million to appeal his civil fraud trial.
Now, Trump has to come up with just $175 million for the bond.
Retweet if you oppose this… pic.twitter.com/LWWBdXf20B
— Occupy Democrats (@OccupyDemocrats) March 25, 2024
It’s not immediately clear whether or not Trump has enough money to cover the $175 million.
[ABC News]
