Former U.S. President Donald Trump holds up a news story about New York Attorney General Letitia James as he speaks to the media at one of his properties at 40 Wall Street following closing arguments at his civil fraud trial on January 11, 2024 in New York City.
Donald Trump does not have enough cash to obtain an appeal bond that would prevent New York’s attorney general from seizing his real estate assets to satisfy a $454 million civil fraud judgment, his lawyers indicated in a court filing Monday.
Trump’s lawyers in the filing said it has proved “impossible” for the former president to get a bond that would secure the full judgment he faces while he appeals the verdict ordering him to pay it.
The filing asks a panel of five Manhattan appeals court judges to let Trump avoid having to post a bond while he challenges a judge’s verdict that he, the Trump Organization and other defendants committed business fraud.
If the panel does not approve that request, Attorney General Letitia James could begin a process to seize Trump’s properties on March 25.
James, who had successfully sued Trump in the case, previously said she would take that step if he did not post an appeal bond or pay off the judgment.
The filing in Manhattan Supreme Court’s appellate division says Trump’s team contacted about 30 surety companies but did not find one willing to underwrite the bond.
Trump’s lawyer wrote that obtaining a bond of that size would require “cash reserves approaching $1 billion,” which neither the former president nor the Trump Organization company has.
Under New York court rules, Trump must post an appeal bond to a