Yes, Watchtower has $40 million cash they could get their hands on immediately. One would be wrong (at this time) to think otherwise.
This is a Supersedas Bond or "Appeal Bond". Watchtower has been in bed with Travelers Insurance for decades and they have held WT's hands through many Risk Mgmt, Trucking, Construction Liability, Property, ect...endeavors. This $40,000,000 case is no different.
https://www.travelers.com/iw-documents/surety-bond/56148-appeal-bonds.pdf
This court requires a bond to be in place UP FRONT through the appeal process as often, major companies will drag things out in appeal so they can "go broke" on the books and ultimately have nothing to eventually be able to give should they loose on appeal.
In essence: Watchtower would rather pay a fee to Travelers to handle the bond work vs. directly offer up a even more publicized lien on one of their sizable real estate assets. Behind the scenes Travelers will lock down the risk as they will not put their neck on the line for $40 mil based on WT's credit rating alone.
I am not an attorney, but I play one on TV (joke) + having a long time PIMO friend in the WT Treasury Dept helps (no joke).