Trump rebuffed after asking a judge to delay his $454 million penalty

NEW YORK — Donald Trump on Wednesday lost his initial bid for a New York appeals court to pause the more than $450 million judgment he faces in a civil fraud case, exposing him to potential financial peril.

Trump told the appeals court that it was “impossible” to secure a bond of more than $450 million — any company providing a bond would most likely require the former president to pledge cash and other collateral — and offered to post one of only $100 million. Any bond that the appeals court accepts would prevent the New York attorney general’s office, which brought the case, from collecting from Trump while he appeals.

In court filings, Trump’s lawyers said he might need to sell some properties at fire-sale prices unless the court cuts him a break, a stunning acknowledgment of his financial limitations.

Yet the former president might still avoid that costly outcome.

Wednesday’s ruling came from a single appellate court judge assigned to consider Trump’s emergency request. Trump can try again with a panel of five appellate court judges, which next month will entertain his request to pause the judgment and accept a smaller bond.

For now, the initial ruling is a setback for Trump, who is racing the clock. If he ultimately fails to secure a bond, the attorney general, Letitia James, could seek to collect from him at any moment. Although the office is expected to provide a 30-day grace period that would expire March 25, it has the power to move swiftly to seize Trump’s bank accounts and potentially take control of his New York properties.

A lawyer for Trump, Christopher Kise, did not immediately respond to requests for comment.

In seeking relief, Trump’s lawyers disclosed that he would be unable to secure a bond for the full $454 million. Under New York law, a defendant also owes 9% interest to the plaintiff until the judgment is paid or the appeal resolved, meaning a full bond might reach $500 million or more.

The appellate court judge assigned Wednesday to consider Trump’s filing, Anil Singh, granted the former president’s request to temporarily pause those punishments, a decision that could help him obtain a loan or a bond.

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