Appeals court drops Trump’s bond to $175M, extends deadline 10 days

[KARAH RUCKER]

THIS MORNING – TRUMP WAS ON THE HOOK FOR $464 MILLION AND HIS PROPERTIES  WERE AT STAKE OF BEING SEIZED IF HE DIDN’T COVER THE JUDGMENT AGAINST HIM IN THE NEW YORK CITY FRAUD CASE.

HIS ONE HAIL MARY – THE APPELLATE COURT –

WHICH JUST SIGNIFICANTLY LOWERED HIS BOND AMOUNT AND EXTENDED MONDAY’S DEADLINE TO PAY IT.

AND TRUMP NOW SAYS HE WILL COMPLY UNDER THE NEW TERMS.

A NEW YORK STATE APPEALS COURT HAS RULED TRUMP DOES NOT HAVE TO PAY THE $464 MILLION BOND IF WITHIN TEN DAYS – HE CAN POST A $175 MILLION BOND.

AN AMOUNT TRUMP SAYS HE WILL PAY TO THE COURT.

SO WHY DOES TODAY’S DECISION MATTER?

THIS WILL MAKE IT EASIER FOR TRUMP’S TEAM TO APPEAL JUDGE ARTHUR ENGORON’S RULING AGAINST HIM – THAT HE INFLATED HIS NET WORTH FOR BETTER BUSINESS LOANS AND OWES THE STATE $454 MILLION.

BY NEW YORK LAW –

TRUMP HAS TO PAY 110 PERCENT OF THE JUDGMENT AS HE APPEALS.

WHICH IS WHY HE WAS ORDERED TO PAY $464 MILLION, UNTIL HIS TEAM ARGUED TO THE FIVE JUDGE PANEL THAT SUCH AN ASK WAS PRACTICALLY IMPOSSIBLE AND ASKED THE APPEALS COURT TO LOWER THE BOND AMOUNT TO $100 MILLION.

THIS LED TO A LAST MINUTE DECISION BY THE COURT TO EXTEND A 10-DAY GRACE PERIOD TO TRUMP AND DRASTICALLY LOWER THE AMOUNT OF THE BOND HE HAS TO PAY.

WHILE THE $175 MILLION IS DUE IN COURT FOR THE APPEAL TO PLAY OUT.

THE AMOUNT TRUMP OWES IN THE END DEPENDS ON IF HE WINS OR LOSES THE CASE ON APPEAL.