Trump's lawyers inform the court that he cannot post a $464 million bond in the civil fraud case

Former President Donald Trump's legal team informed a New York appeals court that they are struggling to secure an insurance company willing to underwrite the massive bond required to cover the judgment against him in the civil fraud case brought by the New York attorney general.

Trump's lawyers stated that despite approaching 30 underwriters, very few are willing to consider a bond of such magnitude, which exceeds $464 million with interest included. According to Trump's attorneys, potential underwriters are demanding cash to back the bond rather than properties. They have requested the appeals court to delay posting the bond until the appeal process is concluded, citing the substantial value of Trump's properties.

Trump himself expressed doubts about his ability to post the bond, labeling its size as "unconstitutional" and "impractical" in a post on Truth Social. Last month, Trump was ordered to pay $355 million in disgorgement by New York Judge Arthur Engoron, with the total amount owed surpassing $450 million with interest.

Trump is appealing the ruling, but to halt the enforcement of the judgment, he must post a bond, which has proved challenging due to the high amount and reluctance of underwriters to accept real estate as collateral. Alan Garten, the top legal officer of the Trump Organization, confirmed the difficulty in securing underwriters willing to accept real estate, calling it a "major obstacle."

Trump's campaign spokesman criticized the size of the fraud judgment, calling it an "abuse of the law" and vowing to continue fighting against it.