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(Bloomberg) -- New York Attorney General Letitia James asked an appeals court to require Donald Trump to prove within 10 days that the company providing his $175 million bond in the states civil fraud case is financially capable of delivering if his legal challenges fail..
The bond puts the judgment on hold while the former president appeals the verdict and the damage award..
Trump arranged the bond on Monday through a California insurance company run by one of his billionaire supporters, Don Hankey. isnt registered with New Yorks Department of Financial Services, so either Trump or Knight needs to prove the firm can pay the massive damage award if Trumps appeal fails..
The appeals court lowered the bond to $175 million without saying why, easing the strain on Trumps finances..
The niche appeal bond industry was thrust into the spotlight earlier this year after Trump lost two civil trials that led to combined damages of more than half a billion dollars..
