Rudy Giuliani, former Mayor of New York City, has filed for bankruptcy in New York due to mounting legal bills from his attempts to challenge the 2020 election results for Donald Trump.
The filing follows a court order to pay $148 million in damages to former Georgia election workers.
Giuliani’s bankruptcy filing reveals debts of about $153 million, with assets totaling up to $10 million. (Trending: Famous Actor Under Investigation After Calling For Biden’s Execution)
His financial challenges are exacerbated by pending lawsuits, including defamation cases brought by Smartmatic and Dominion Voting Systems, as well as a case involving President Joe Biden’s son, Hunter.
The bankruptcy filing aims to provide transparency and equal treatment for creditors as Giuliani pursues an appeal.
“The filing should be a surprise to no one. No person could have reasonably believed that Mayor Rudy Giuliani would be able to pay such a high punitive amount,” Giuliani’s political adviser Ted Goodman said.
“Chapter 11 will afford Mayor 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.”
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