The appeals court granted Trump a partial victory in his challenge to the $454 million penalty imposed in the NY AG’s civil fraud case against him.
While allowing Trump to temporarily operate his business and apply for bank loans, the court ruled he must still pay the fine.
Trump’s lawyers argued the conditions made it impossible to secure a loan to post the full bond to pause enforcement pending appeal.
His lawyers claimed the “exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond.”
The AG’s office responded there was no merit to Trump’s claims and a full bond was necessary given his lack of liquid assets.
Senior Assistant Solicitor General Dennis Fan wrote, “Defendants all but concede that Mr. Trump has insufficient liquid assets to satisfy the judgment.”
“These are precisely the circumstances for which a full bond or deposit is necessary,” he continued.
Both sides will present further arguments before a final ruling from the appeals court.
