Former U.S. President Donald Trump has been granted a reprieve by a New York appellate court, which ruled that he can post a lower bond of $175 million to cover a $464 million civil fraud judgment against him.
The decision comes as a relief for Trump, who had expressed concerns about having to sell assets at reduced prices to meet the original bond requirement.
According to ABC News, the court, comprising five judges, also extended the enforcement delay of the $464 million judgment by 10 days.
Trump's legal team had argued that securing the full bond amount was practically unfeasible.
Facing a looming deadline set by New York Attorney General Letitia James, Trump and his sons had until Monday to either pay the judgment or provide a bond, failing which James could initiate asset seizure proceedings against the former president.
Reuters reports that while the court's ruling provides temporary relief, it does not indicate a definitive stance on the underlying case, which accuses Trump of inflating his wealth to deceive investors and lenders.
The appeals court's deliberations on the case's merits could span over a year or longer, leaving Trump's legal fate uncertain.
Speaking outside a New York courthouse where he was attending a separate criminal case, Trump welcomed the court's decision, pledging to swiftly provide the required $175 million in cash, bonds, or securities.
"I greatly respect the decision of the Appellate Division, and I'll post either $175 million in cash or bonds or security or whatever is necessary very quickly within the 10 days, and I thank the Appellate Division for acting quickly," he said.
Trump was previously declined a bond to cover the full $464 million judgment by 30 bond companies.
Despite the order, a spokesperson for the New York attorney general said in a statement: "The $464 million judgment -- plus interest -- against Donald Trump and the other defendants still stands."
"Donald Trump is still facing accountability for his staggering fraud," the statement said. "The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization."
Amid his legal battles, including criminal charges and multimillion-dollar civil judgments, Trump remains active in the political arena, aiming to challenge Democratic President Joe Biden in the upcoming November election.
Despite legal maneuvers that have delayed several criminal trials, a New York judge recently ruled that proceedings for a case related to hush money paid to a porn star will commence on April 15.
Before the latest order, James had retained the option to petition the court to initiate the seizure of his assets, including valuable real estate assets such as 40 Wall Street in Manhattan.
Trump has encountered challenges in sourcing funds for both his campaign and legal fees.
While maintaining his innocence in the criminal proceedings, he has consistently refuted any allegations of misconduct across all cases.
