Benzinga - by Chris Katje, Benzinga Staff Writer.
A New York appeals court ruled Monday that former President Donald Trump will have 10 more days to post an appeals bond for a $454-million civil fraud judgment against him.
Along with an extension of the deadline for Trump to secure funds, the amount of the bond has been reduced to $175 million, according to CNN.
What Happened: In February, Judge Arthur Engoron ruled that Trump owes $454 million in a civil fraud case he lost. Trump had faced a deadline Monday to post a $454-million bond in the case, which he intends to appeal.
The appeals court also ruled Monday that Trump and his sons Donald Trump Jr. and Eric Trump are still able to conduct business in New York at this time.
Court-ordered monitoring and the appointment of a compliance director for Trump's company, both of which were ordered by Engoron, are set to remain in place as of Monday.
The appeals court ruling could provide a lifeline for Trump, giving him more time to secure funds and a lower amount to come up with. Trump sought to post a smaller bond amount or no bond at all, as he said it would cause harm if he had to sell real estate assets on the cheap to put together the funds.
Why It's Important: The ruling from the appeals court will temporarily prevent the former president's assets from being seized to cover the judgment against him. Trump faced a scenario Monday in which New York Attorney General Letitia James was ready to begin seizing property, including bank accounts and real estate assets, if the bond were not posted.
Trump previously secured a $91.6-million appeal bond related to a judgment in a lawsuit filed by E. Jean Carroll. The bond was underwritten by a unit of insurance company Chubb Limited (NYSE:CB).
The timeline extension for his bond and amount reduction comes as Trump's media company Trump Media & Technology Group merged with Digital World Acquisition Corporation (NASDAQ:DWAC).
While Trump's 80 million shares may not be able to be unlocked for months, a potential listing this week could increase his value by billions and become collateral on a loan or bond.
DWAC Price Action: Digital World Acquisition shares are up 12% to $41.50 on Monday.
Read Next: Trump SPAC Merger Approved, Set For Imminent Public Debut: The Profits Some Investors Missed
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