New York, USA

Former US president Donald Trump revealed Friday (Mar 22) that he is having almost a half-billion dollars in cash but he won’t use it to clear the $454 million civil fraud judgment against him in New York. The former president said he would rather spend the money on his presidential campaign ahead of the November elections.

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Trump has also vowed to appeal the judgment “all the way up to the US Supreme Court if necessary” as authorities take preliminary actions to seize his assets in case he fails to pay the legal expenses.

“I’ll fight this all the way up to the US Supreme Court if necessary,” Trump was quoted as saying by Fox News Channel on Friday. Mischaracterising the law, he added: “They can’t take away your property before you’ve had a chance to appeal.”

Trump is due to cough up a whopping $454 million before the Monday deadline (Mar 25) in the civil judgment case against him for overstating his net worth and the value of his real estate properties. Trump maintains that efforts are being made to stifle his campaign and intimidate him.

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Argument by Trump’s lawyers

Trump’s lawyers say it’s not feasible for the former president to spend so much cash on bonds even as his businesses were running. They highlighted how a loan condition mandates Trump to maintain a minimum liquidity of $30 million.

His lawyers meanwhile are attempting to get a state appeals court to spare him from a requirement that he provide financial guarantees.

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Also read: Properties Trump is likely to lose if he fails to secure bond in $464mn civil fraud case

Earlier on Thursday (Mar 21), the lawyers said they were having difficulty securing a bond covering the judgment. They claim more than 30 bonding companies have so far rejected their entreaties.

As Trump seeks to get the $454 million judgment reversed, New York Attorney General Letitia James has vigorously fought his claims, urging courts to make him pay the full amount if the verdict is upheld.

What next for Trump?

Since the fraud case underwent trial in state court, Trump would probably need to complete the state appeals procedure initially or seek recourse in a federal court, a rare move, to potentially escalate his legal battle to the US Supreme Court.

After experiencing defeat in a federal appeals court or a state's highest court — known as the Court of Appeals in New York — a party can subsequently submit a petition for a writ of certiorari, a formal request to the Supreme Court to evaluate the case.

(With inputs from agencies)