Trump is unable to secure a multimillion-dollar bond to cover penalties he owes in a civil fraud case in New York, his attorneys said in a court filing Monday.
Trump and his former Trump Organization associates owe the state $464 million, including penalties, and while Trump isthe ruling against him, he must still guarantee the full amount by March 25. Posting a bond would allow Trump to do this while his appeal proceeds.
They argued that “very few bonding companies” would even consider providing a bond “of anything approaching that magnitude.” “Obtaining such cash through a ‘fire sale’ of real estate holdings would inevitably result in massive, irrecoverable losses — textbook irreparable injury,” they wrote. Trump’s attorneys on Monday called the judgment “grossly disproportionate and unconstitutional” and argued that it would “not survive appellate review.”James previously warned in her own court filing that if Trump does not pay the sum by next week’s deadline, she will begin taking measures to retrieve it, such as by seizing his New York assets.
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