NEW YORK (NEWSnet/AP) — New York state lawyers and an attorney for former President Donald Trump settled their differences Monday over a $175 million bond that Trump posted to block a civil fraud judgment while he pursues appeal.

The agreement cut short a potential day-long court hearing in Manhattan.

As part of a deal finalized during a 20-minute recess, lawyers for Trump and Knight Specialty Insurance Company agreed to keep the $175 million in a cash account that will gain interest but faces no downside risk. The account so far has grown by over $700,000.

The bond stops the state from seizing Trump’s assets to satisfy the $454 million he owes after losing a court case brought by the attorney general. She had alleged that Trump, along with his company and key executives, defrauded bankers and insurers by lying about his wealth.

In February, Judge Arthur Engoron issued the judgment after concluding that Trump and others had deceived banks and insurers by exaggerating his wealth on financial statements.

As part of the deal, Knight Specialty Insurance, a Wilmington, Delaware-based part of the Los Angeles-based Knight Insurance Group, will have exclusive control of the $175 million and will submit to the jurisdiction of the New York state court, while agreeing not to move the money into mutual funds or other financial instruments.

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