The lawyers representing former President Donald Trump said on Monday that their client has been unsuccessful in his attempts to secure bond for Judge Arthur Engoron’s $464 million civil business fraud judgment against him and his company.
Trump’s team submitted a filing in the New York Appeals Court, saying that despite Trump’s efforts, suretors wouldn’t accept real estate as collateral, meaning the Trump Organization must come up with around $1 billion in cash to continue to operate, The Wall Street Journal reported. The lawyers argued in their filing that posting bond for the judgment’s full amount is “a practical impossibility.”
“Here, Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” Trump’s lawyers wrote.
“These diligent efforts have included approaching about 30 surety…
