A New York appeals court on Monday gave former President Trump 10 more days to post a $175 million bond and satisfy the judgment in his New York civil fraud case, a much smaller total than the $454 million initially required.
Why it matters: It's a huge win for the former president, who was staring down the prospect of a devastating financial and personal blow if he was unable to post the nearly half-billion-dollar bond by the Monday deadline.
New York Attorney General Letitia James, who brought the case against Trump, was prepared to begin seizing Trump's assets ahead of the Monday deadline.
Driving the news: The order means that James can't begin collecting the judgment from the civil fraud trial, which found that the former president and his co-defendants committed years of financial fraud.
The appeals court also stayed part of the judgment that barred Trump from serving as an officer or director of a New York company for three years.
What he's saying: Trump hailed the appeals court decision and signaled that he would be able to post the new bond total in a post on his Truth Social account on Monday.
"We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash," he wrote.
"This also shows how ridiculous and outrageous Engoron's original decision was at $450 Million."
The other side: A spokesperson for James in a statement on Monday said that "Trump is still facing accountability for his staggering fraud."
"The $464 million judgment – plus interest – against Donald Trump and the other defendants still stands."
Zoom in: The appeals court ruling comes afterTrump's lawyers in a filing last week said that it had proven "impossible" to post the bond total following the judgment in the New York civil fraud trial.
In a sign of his growing desperation last week, Trump said he may have to sell some of his properties at "fire sale prices" to cover the $454 million bond.