Donald Trump cannot find a private company to guarantee the $464m (£365m) he has been ordered to pay in a New York civil fraud case.
The former president must either pay the full amount in cash or secure a bond in order to continue his appeal.
Mr Trump said that securing a bond of that size was “practically impossible”.
He faces the prospect of some of his real estate assets being liquidated unless he pays up.
For a fee, a bonding company would guarantee the full amount to the New York court.
They would then have to pay it if Mr Trump loses his appeal and cannot do so himself.
In his statement, Mr Trump said that the bond he was asked to pay would be “impossible for any company, including one as successful as mine”.
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