(DURHAM) -- A new trial has been ordered for Michael Peterson.  The Durham novelist was convicted in 2003 for the murder of his wife Kathleen two years earlier.

Judge Orlando Hudson set the secured bond Wednesday at $300,000.  Peterson hopes to bond out of jail as early as this week.

Attorney David Rudolf said this is a chance for justice to be done. "Not only are we going to have a second trial in this matter, but in the second trial, the State is going to be handicapped and it all goes back to Duane Deaver being less than honest in his testimony," said Rudolf. Peterson's attorneys focused on presenting serious questions about the testimony of Deaver, a former SBI agent.

If Peterson is released on bond, he will have to wear electronic monitoring while awaiting his new trial. He would live at a friend's home in Durham.