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

  • borari@sh.itjust.works
    131·
    8 months ago

    That wasn’t what was at stake here. Trump was already found guilty, he wasn’t bonding out of pretrial detention he was having to post bond in order to appeal the ruling, which typically requires the person making the appeal to post a bind to make sure they don’t spend all their money fighting on appeal, just to lose the appeal and not have any money left to pay the original judgement.

    So my expectation was that yes, he would have to follow the same court rules as everyone else and put up the bond in order to appeal. While I do think we should get rid of requiring pretrial detention bond, I don’t necessarily see an issue with requiring pre-appeal bond. I don’t know, you don’t want to create a situation where you’re means testing the right to appeal, but you don’t want people to indefinitely delay enforcement of judgement against them or to allow them to spend away their ability to pay the judgement on appeals. Maybe forcing either the entirety of the judgement to be paid into a more traditional escrow account, or a payment plan for the judgement to be accepted and that paid into escrow, before an appeal can be started?

    Any way you cut it though, I can’t fault this chuckle fuck for playing the court game but I’m fucking incensed the court is enabling it.