Donald Trump’s lawyers have told New York’s Court of Appeal that the former president is unable to post a bond to pay the full $454m (£356m) he is owed. Civil Fraud Judgment When he appealed.

His legal team said in a court filing that the 77-year-old Republican presidential candidate has encountered “insurmountable difficulties” in raising funds to pay the fine, and that about 30 companies they have approached have rejected his requests.

If Trump fails to make the massive payment by March 25, New York authorities could begin seizing some of his bank accounts and much of his iconic New York real estate. His nemesis, New York attorney Fennell and Democrat Letitia James, is vying for the chance.

The news raised the possibility that the Republican nominee could face a financial crisis, although he still has options such as appealing to the state Supreme Court, selling assets or petitioning wealthy backers.

His team was left with the following options: Corporate entity bankruptcy related to the case, but it could have an impact on his campaign, and that seems unlikely, New York Times the report said.

But Trump’s finances remain a source of curiosity as he continues a fundraising spree for his campaign and court cases.

Trump says he is worth billions and testified last year that he has about $400 million in cash in addition to properties and other investments.Estimates of Trump’s worth vary, and some even have different estimates doubtful About his billionaire status.

Forbes magazine valuations Trump’s real-time net worth is $2.6 billion, while Bloomberg pin it to $3.1 billion.

Main source of Trump’s wealth Reportedly done It is estimated that in addition to about $600 million in cash and personal assets, it comes from real estate holdings, golf clubs and resorts in New York City Forbes Last September.

Forbes Trump’s net worth is estimated to have peaked in 2015, the year before he was elected president.

Last year, Trump fell off”Forbes 400 List”, America’s richest man tallied as his valuation drops truth social platform and real estate holdings.

In a last-ditch effort to prevent a humiliating seizure of his empire, Trump asked an appeals court to grant a stay and post a small bond. But time seems to be running out.

His lawyers had previously proposed a $100 million bail. But Court of Appeal judge Anil Singh rejected that claim.

Gary Giulietti, a real estate agent hired by Trump to help secure the bonds, told the court in an affidavit that few bonding companies would consider issuing a bond of this size.

The company will not “accept hard assets such as real estate as collateral,” but “only cash or cash equivalents (such as marketable securities).” He added: “Bonds of this size are rare.”

Some believe the former president’s failure to find financial backers to fully pay a $454 million civil fraud fine was due to the toxicity of the Trump brand.

Chubb Insurance The company was heavily criticized for underwriting a much smaller $83 million bond in the company’s defamation lawsuit against E Jean Carroll. Evan Greenberg, Chubb’s CEO, felt the need to publicly state: “We don’t take sides, it’s wrong, and we in no way support the defendants.”

He noted that the appeal bond “is an important neutral mechanism” and that as surety, Chubb was not taking sides but was “part of the justice system pipeline.”

But according to financial experts, the real explanation for Trump’s failure to seek help for a much larger bond — even though his net worth easily exceeds the dollar amount he needs to insure — is more prosaic: insurance regulation Insurance companies are not allowed to charge exorbitant fees. Interest is needed to make the risk worth it.

“It is risky for insurance companies to accept real estate as collateral because its value is unpredictable and difficult to sell on short notice. Regulators do not allow insurance companies to charge high premiums for taking on such risks.” New York Times financial writer Peter Coy noted on Monday.

It’s the latest example of rules and regulations catching up with Donald Trump. This may not be the last time.