Rudy Giuliani, former mayor of New York, filed for bankruptcy on Thursday, citing financial strain exacerbated by legal battles and a recent jury verdict that ordered him to pay $148 million to two former Georgia election workers. The workers claimed defamation by Giuliani, alleging his false claims about the 2020 election led to death threats.
Giuliani’s bankruptcy filing revealed nearly $153 million in existing or potential debts, including tax liabilities, legal fees, and potential judgments in other lawsuits against him. While he estimated his assets between $1 million and $10 million, the recent damages awarded in the Georgia case significantly impacted his financial standing.
The Chapter 11 filing allows Giuliani to pursue an appeal while providing transparency for his finances under the supervision of the bankruptcy court. However, it is unlikely to erase the $148 million verdict, as bankruptcy law does not dissolve debts resulting from “willful and malicious injury” inflicted on others. The plaintiffs in the Georgia case can pursue payment immediately.
Giuliani, a once-prominent figure known as “America’s Mayor” for his leadership after the 9/11 attacks, has faced financial challenges in recent years. Legal issues related to his support for former President Donald Trump’s efforts to overturn the 2020 election, along with investigations and lawsuits, have taken a toll on Giuliani’s finances.
The bankruptcy filing also listed potential liabilities from lawsuits, including those by voting machine manufacturers and Hunter Biden. Giuliani faces allegations of defamation, unpaid legal bills, and claims of owed wages and coercion into sex. The bankruptcy filing did not provide details about Giuliani’s recent sources of income, such as his radio show, social media presence, and Cameo appearances.
Giuliani’s financial struggles have been evident in various legal battles, including an indictment in Georgia related to election interference charges. Despite these challenges, Giuliani has continued to maintain a public presence through his media engagements and legal defense efforts.
The bankruptcy filing marks a significant development in Giuliani’s financial woes, and it remains to be seen how this will impact his ongoing legal battles and public image. As Giuliani navigates this new chapter, the repercussions of his actions and legal decisions will continue to unfold.