On Wednesday, New York Attorney General Letitia James urged an appeals court to reject former President Donald Trump’s plea to lessen or delay the payment of the $454 million bond, which is meant to cover a civil fraud judgment.
On Monday, Trump’s lawyers stated that in order to temporarily halt the enforcement of the judgment, Trump needs to provide a liquid bond, such as cash or securities, that covers the entire amount. However, they revealed that 30 surety companies have informed Trump that they won’t accept real estate assets as collateral.
If Trump fails to come up with the $454 million bond, Letitia James may pursue freezing some of his bank accounts and properties. Enforcement proceedings against Trump could begin as soon as March 25th.
On Wednesday, lawyers representing the State of New York contended that Trump had not thoroughly explored all avenues to post bond. They urged the court to dismiss Trump’s plea to delay collection without bond while his legal team navigates the appeals process.
As reported by the Associated Press:
The attorneys wrote that “it is not possible under the circumstances presented.” They said underwriters insisted on cash or other liquid assets instead of real estate