Court cuts bond in Trump civil fraud case to US$175 million, gives 10-day deadline

A New York appeal court on Monday agreed to hold off collection of former US president Donald Trump’s more than US$454 million civil fraud judgment if he puts up US$175 million within 10 days.

If Trump does, it will stop the clock on collection and prevent the state from seizing the presumptive Republican presidential nominee’s assets while he appeals. The appeal court also halted other aspects of a trial judge’s ruling that had barred Trump and his sons Eric Trump and Donald Trump Jnr, the family company’s executive vice presidents, from serving in corporate leadership for several years.

In all, the order was a significant victory for the Republican ex-president as he defends the property empire that vaulted him into public life. The development came just before New York Attorney General Letitia James, a Democrat, was expected to initiate efforts to collect the judgment.

Trump, who was attending a separate hearing in his criminal hush money case in New York, hailed the ruling and said he would post a bond, securities or cash to cover the US$175 million sum in the civil case. Speaking in a courthouse hallway, Trump revisited his oft-stated complaints about civil trial Judge Arthur Engoron and the penalty he imposed.

“What he’s done is such a disservice and should never be allowed to happen again,” said Trump, who argues that the fraud case is discouraging business in New York.

James’ office, meanwhile, noted that the judgment still stands, even if collection is paused.