The decision by a five-judge panel of appellate court judges, comes after the real estate mogul claimed he would have to sell properties in a “fire sale” to raise cash.
A New York court of appeals has significantly reduced the bond required to stop his properties from being seized by authorities from $464 million to $175 million, in order to appeal his New York civil fraud trial.
The decision by a five-judge panel of appellate court judges, comes after the real estate mogul claimed he would have to sell properties in a “fire sale” to raise cash.
Had the court denied Trump’s request, and he had failed to obtain the full bond amount, Trump was at risk of losing his bank accounts, followed by some of his properties.
His attorneys had asked the appeals court to either waive the bond requirement or reduce it, arguing that the $464 million judgement against Trump and his family was likely to be overturned on appeal.
Trump has 10 days to post the bond.
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