In a recent turn of events, Donald Trump has caught a break in his New York civil case as his multi-million-dollar bond has been significantly reduced. An NY appeals court has slashed Trump’s civil fraud judgment bond from an overwhelming $454 million to $175 million, giving him an additional 10 days to come up with the cash.
The ruling comes just as New York Attorney General Letitia James was gearing up to enforce the judgment against Trump by seizing his assets. Trump’s legal team had previously expressed difficulties in securing the funds to appeal the ruling, with insurers showing little interest in backing the bond.
His lawyers revealed that they had approached 30 underwriters to support the bond, but to no avail. The sheer magnitude of the bond amount had made it impractical for most bonding companies to consider. Trump would have needed nearly a billion dollars in cash reserves just to get an insurance company on board, making the task seem nearly impossible.
However, the recent decision by the appeals court has provided Trump with a lifeline. By acknowledging the absurdity of the original bond amount, Trump has been given a chance to gather the necessary funds. According to reports, he should be able to meet the new requirement and continue his legal battle.
This latest development marks a significant moment in Trump’s ongoing legal battles. The decision to reduce his bond amount gives him a fighting chance to appeal the civil fraud judgment against him. Despite facing numerous challenges, Trump has been granted a reprieve by the appeals court, allowing him to live to fight another day.
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