With Donald J. Trump on the clock to secure a nearly half-billion-dollar bond in his civil fraud case, a New York appeals court handed the former president a lifeline on Monday, saying it would accept a far smaller bond of $175 million.
The ruling by a panel of five appellate court judges was a crucial and unexpected victory for Mr. Trump, potentially staving off a looming financial disaster. Had the court denied his request for a smaller bond in the fraud case, which was brought by the New York attorney general, Mr. Trump risked losing control over his bank accounts and even some of his marquee properties.
For now, those dire outcomes might be on hold. If Mr. Trump obtains the smaller bond, it will prevent the attorney general from collecting while he appeals the $454 million judgment against him. The appeal in the case, in which a trial judge found that Mr. Trump fraudulently inflated his net worth, could take months or longer to resolve.
Mr. Trump has 10 days to secure the bond, and two people with knowledge of his finances said he should be able to, though doing so will effectively drain much of his cash. In order to obtain the bond — a promise from an outside company that it will cover his judgment if he ultimately loses the appeal and cannot pay — Mr. Trump will have to pay the company a fee and pledge about $200 million in cash and other investments as collateral.