Donald Trump can’t post full bond in New York fraud case, offers US$100 million

The judge imposed a US$354.9 million penalty against Trump, which had by last week grown to US$454.2 million with interest. Another US$112,000 of interest gets added each day.

In a filing with the Appellate Division, a mid-level appeal court, Trump’s lawyers said the “exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond”.

They said a US$100 million bond, together with Trump’s “vast” real estate holdings and ongoing oversight by a court-designated monitor for the Trump Organization, would be more than sufficient to secure the judgment.

Trump’s lawyers also sought to temporarily stay enforcement of the judgment during his appeal, saying he would suffer “irreparable harm” if James forced the sale of his real estate assets to raise capital.

James’ office did not immediately respond to requests for comment.

Trump’s property could be seized if he can’t pay debt: New York attorney general

A bonding company would be on the hook for any payout if Trump lost his appeal and proved unable to pay.

It might also have difficulty collecting if Trump, the front runner for the Republican presidential nomination, reclaimed the White House from Democrat Joe Biden.

Trump is also seeking to avoid posting a full bond during an expected appeal of last month’s US$83.3 million defamation verdict in favour of the writer E. Jean Carroll.

He has asked the judge in that case to let him appeal without posting any security, or alternatively by posting at most a US$24.5 million unsecured bond.