Rudy Giuliani Files for Bankruptcy Days after $148 Million Judgement

  • Rudy Giuliani Files for Bankruptcy Days after $148 Million Judgement

    Posted by outdoorsguy on December 21, 2023 at 2:46 pm

    Rudy Giuliani files for bankruptcy days after being ordered to pay $148 million in defamation case

    NEW YORK (AP) — Rudy Giuliani filed for bankruptcy on Thursday, acknowledging severe financial strain exacerbated by his pursuit of Donald Trump false 2020 election claims and a jury’s award of $148 million to two former Georgia election workers he defamed.

    The former New York City mayor listed nearly $153 million in existing or potential debts, including almost $1 million in tax liabilities, money he owes lawyers and many millions of dollars in potential legal judgments in lawsuits against him. He estimated he had assets in the range of $1 million to $10 million.

    The eye-popping damages verdict that Giuliani was ordered to pay a week ago resulted from his false statements about the election workers. They said his targeting of them after Trump narrowly lost Georgia to Democrat Joe Biden led to death threats that made them fear for their lives.

    Ted Goodman, a political adviser and spokesperson for Giuliani said in a statement that Giuliani’s decision to seek bankruptcy protection “should be a surprise to no one” because “no person could have reasonably believed that Mayor Giuliani would be able to pay such a high punitive amount.”

    The filing will give Giuliani “the opportunity and time to pursue an appeal, while providing transparency for his finances under the supervision of the bankruptcy court, to ensure all creditors are treated equally and fairly throughout the process,” Goodman said.

    But declaring bankruptcy likely will not erase the $148 million in damages a jury awarded to the former Georgia election workers, Ruby Freeman and Wandrea’ “Shaye” Moss.

    Bankruptcy law does not allow for the dissolution of debts that come from a “willful and malicious injury” inflicted on someone else. On Wednesday, U.S. District Judge Beryl Howell in Washington said Freeman and Moss did not have to wait the standard 30 days before starting work to collect the judgment, finding that Giuliani could use that time to hide his assets.

    “This maneuver is unsurprising, and it will not succeed in discharging Mr. Giuliani’s debt to Ruby Freeman and Shaye Moss,” said Michael Gottlieb, an attorney for Freeman and Moss

    After the verdict, Giuliani said he would appeal, repeated his claims that the 2020 election was stolen from Trump, insisted he did nothing wrong and suggested he would keep pressing his claims even if that means losing all his money or ending up in jail.

    The case was the latest and costliest sign of the mounting financial toll incurred by the 79-year-old Giuliani, a one-time Republican presidential candidate and high-ranking Justice Department official once heralded as “America’s Mayor” for his calm and steady leadership after the terrorist attacks on Sept. 11, 2001.

    Giuliani’s financial woes have worsened due to investigations, lawsuits, fines, sanctions, and damages related to his work helping Trump try to overturn the 2020 election.

    Among his potential debts, he listed lawsuits brought by two voting machine manufacturers who say he and others defamed them with claims of a stolen election.

    Giuliani’s lawyer, Adam Katz, suggested at an August court hearing in one of those cases that Giuliani was “close to broke,” and unable to pay a number of bills, including a $12,000 to $18,000 tab for a company to search through his electronic records for evidence.

    In court papers rebuffing voting machine-maker Smartmatic’s demand for an accounting of his finances, Giuliani’s lawyers disclosed that he was so hard up for money that he solicited third-party donations to pay a prior $300,000 bill to the electronic discovery firm.

    In September, Giuliani’s former lawyer Robert Costello sued him for nearly $1.4 million in unpaid legal bills. Giuliani claimed he never received them. The case is pending.

    Costello represented Giuliani from November 2019 to this past July in matters ranging from an investigation into his business dealings in Ukraine, which resulted in an FBI raid on his home and office in April 2021, to investigations of his work in the wake of Trump’s 2020 election loss.

    Investigators noted Giuliani’s dwindling finances in court papers unsealed this week from the 2021 raid, citing bank records and other information showing he’d gone from having about $1.2 million in the bank and $40,000 in credit card debt in January 2018 to about $288,000 in cash and $110,000 credit debt in February 2019.

    Giuliani’s other lawsuits, which he listed as potential liabilities, include one brought against him by Biden’s son, Hunter Biden, who alleges he was responsible for the “total annihilation” of his digital privacy by accessing and sharing his personal data from his laptop computer.

    Muscle4Muscle2009 replied 2 months, 1 week ago 3 Members · 3 Replies
  • 3 Replies
  • ObscureandFuzzy

    December 21, 2023 at 6:58 pm

    What was most interesting was that he hasn’t paid his Federal and NY State taxes for the past 2 years!

    I guess with the $10,000 monthly HOA fees plus the property taxes, he just didn’t have anything left to pay his taxes.

  • outdoorsguy

    December 21, 2023 at 8:07 pm

    Guiliani is a crook … …. just like Trump. He would not provide financial statements before trial Bankruptcy Won’t Shield Giuliani from the $148M Verdict

    Bankruptcy protections won’t save him from having to pay out the $148 million he owes two Georgia elections workers he defamed, a bankruptcy expert told Business Insider.

    Giuliani — who’s gone from former New York City mayor to die-hard Trump ally — filed for Chapter 11 bankruptcy protection in New York on Thursday, less than a week after a court found him liable of defamation.

    “The filing should be a surprise to no one,” Ted Goodman, a political advisor to Giuliani, said in a statement. “No person could have reasonably believed that Mayor Rudy Giuliani would be able to pay such a high punitive amount.”

    Goodman said the bankruptcy filing would give Giuliani “the opportunity and time to pursue an appeal, while providing transparency for his finances under the supervision of the bankruptcy court, to ensure all creditors are treated equally and fairly throughout the process.”

    Because defamation is an “intentional tort” — meaning Giuliani broke civil laws on purpose — he can’t jettison the $148 million judgment through the bankruptcy process, according to Eric Snyder, the chairman of the bankruptcy practice at Wilk Auslander LLP.

    “If you owe somebody money and you get a judgment, you can get rid of that in the bankruptcy,” Snyder told Business Insider. “But if the judgment comes from certain things — like fraud, breach of your duties, intentional torts — then you can’t get rid of them.”

  • Muscle4Muscle2009

    December 22, 2023 at 2:28 am

    No need to grab the pearls on this news either! Rudy is playing the same playbook as dickhead Trump. However, it is important to note that if Rudy decides to appeal the ruling, he will be required by law to put up the total settlement of $148M as a bond before he can file the appeal which of course he doesn’t have. Donny will do the same thing when the NY AG’s case is finalized and he’s hit with a $500M fraud ruling. He’ll claim poverty and/or try to tie everything up in the courts for years. I don’t think any of the plaintiffs in these cases will see any money for a very long time, if any money at all. What a great system we have in America. Commit fraud and defamation all you want cuz in the end, if you have the money, you can just cut a check and carry on! Think Dominion and the Fox propaganda channel. Just a few weeks after the settlement, they were back to business as usual lying, spewing conspiracy theories, hate, vitriol and nonsense. VOTE! Take your country back!!

Log in to reply.