The deal will keep the bond largely unchanged, with the $175 million in cash that Mr. Trump deposited as collateral remaining in a money-market account, while adding new terms stipulating that the $175 million must remain as cash, and not be transferred into mutual funds, for example.
The dispute over the bond was overshadowed on Monday by the start of Mr. Trump’s criminal trial in another Lower Manhattan courthouse a few blocks away.
The attorney general, Letitia James, accused Mr. Trump in the civil case of fraudulently inflating his net worth.
After a monthslong trial last year, the judge in the case, Arthur F. Engoron, agreed and imposed the massive penalty.
But subsequently, an appeals court lowered the judgment to $175 million while it considered Mr. Trump’s appeal of the ruling.
Persons:
Donald J, Trump, Letitia James, Mr, Arthur F, Engoron
Organizations:
New, Knight Specialty Insurance Company
Locations:
New York, California, Lower Manhattan