While former President Donald Trump is in a New York courtroom Monday seeking to obtain a dismissal or delay of the "hush money" criminal case brought against him by Manhattan District Attorney Alvin Bragg, Trump notched a legal victory in a New York appellate court regarding the $454 million appeal bond he was due to pay by Monday.
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Per initial reports, the appellate court reduced the requisite appeal bond to $175 million and extended the deadline for paying it by 10 days.
NEW: A New York appeals court just reduced the amount Donald Trump has to post for his civil fraud bond: $175 million. The court has given him 10 more days to meet the terms of the $454 million civil fraud judgment.
— Kyle Griffin (@kylegriffin1) March 25, 2024
That's obviously some welcome news for the beleaguered former president, who is facing multiple court battles, both criminal and civil, as he attempts to campaign and win back the White House in November.
Trump, according to multiple sources close to former president, reacted to the ruling with a sigh of relief.
"We got what we wanted," one source told ABC News.
Thirty bond companies had declined to offer Trump a bond to cover the full $464 million judgment and were waiting for the appeals court to rule.
While $175 million is still a hefty sum, it appears likely Trump will be able to secure a bond to cover the reduced amount, which will allow his appeal of the civil fraud judgment to proceed.
UPDATE:
RedState has now obtained a copy of the appellate court order reducing the bond amount and extending the deadline for Trump to post it. A full copy of the order may be viewed below.
One additional thing to note about this ruling is that it upholds the stay of certain conditions that the court had previously issued. Those stipulations include:
(3) barring defendants Donald J. Trump, Weisselberg and McConney from serving as an officer or director of any New York corporation for three years; (4) barring defendant Donald J. Trump and the corporate defendants from applying for loans from New York financial institutions for three years; and (5) barring defendants Donald Trump, Jr. and Eric Trump from serving as an officer or director of any New York corporation in New York for two years.
In other words, while he will only have to come up with just shy of 40 percent of the original bond amount, other restrictions imposed by Judge Engoron's judgment will be stayed while the appeal proceeds.
Appeals Court Lowers Bond by Susie Moore on Scribd
This is a developing story. RedState will provide further details as they become available.
Editor's Note: The update has been corrected to reflect that the appellate court continued the stay of certain provisions of the judgment pending the appeal rather than reinstating them. RedState apologizes for the error.
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