New York state lawyers and an attorney for former President Donald Trump have settled their differences over a $175 million bond that Trump posted to block a large civil fraud judgment while he pursues appeals. The agreement was reached during a court hearing in Manhattan, cutting short what could have been a lengthy legal battle.
As part of the deal, lawyers for Trump and Knight Specialty Insurance Company agreed to keep the $175 million in a cash account that will accrue interest without any downside risk. The account has already grown by over $700,000. This bond prevents the state from seizing Trump's assets to satisfy the more than $454 million judgment he owes after losing a court case brought by the Democratic attorney general.
