Donald Trump faces the challenge of having to sell property to cover a $454 million civil fraud verdict in New York.
He needs to pay the full judgment by March 25 or arrange a bond for at least 110% of the amount to appeal.
Trump previously noted that his “vast ownership interests in New York real estate” was sufficient to pay if necessary. He added that “trophy properties” such as 40 Wall Street cannot be “removed from the jurisdiction in secret.”
Trump’s real estate empire faces losses in a tough commercial property market, however.
If he can’t secure an appeal bond, he risks significant financial strain.
The market slump has forced many to sell at lower prices.
Trump’s financial situation might not cover the bonds needed for the appeal, but his media company’s stock rally may provide future relief.
Trump proposed a smaller bond, citing his ownership interests in New York real estate as sufficient collateral.
New York Attorney General is ready to seize Trump’s assets if he doesn’t comply.
“A prevailing plaintiff is entitled to have her award secured, and defendants have never demonstrated that Mr. Trump’s liquid assets could satisfy the full amount of the judgment,” AG Letitia James wrote.
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