Rudy Giuliani Files for Chapter 11 Bankruptcy After Massive $148M Defamation Judgment
Rudy Giuliani filed for Chapter 11 bankruptcy this week after he was ordered to pay two Georgia election workers nearly $150 million for defamation, RadarOnline.com can report.
The shocking development comes just days after a Washington, D.C. jury found the former New York City mayor liable for defaming Ruby Freeman and Shaye Moss during the 2020 presidential election.
Giuliani attempted to defend Trump saying: 'It was sexual assault, not rape.'
Giuliani was ordered to pay the two Georgia election workers approximately $75 million each in punitive damages, as well as an additional $20 million each for emotional distress.
Now, according to Bloomberg, Giuliani was forced to file for Chapter 11 bankruptcy protections in New York because of the massive defamation judgment.
The outlet reported that the man once dubbed “America’s Mayor” filed the petition in the U.S. Bankruptcy Court for the Southern District of New York on Thursday.
Even more shocking is the revelation that Giuliani is between $100 million to $500 million in debt and only possesses between $1 million to $10 million in assets.
Giuliani filed the petition in the U.S. Bankruptcy Court for the Southern District of New York.
The Thursday filing also revealed that President Joe Biden’s son Hunter Biden, the IRS, and the New York State Department of Taxation and Finance are among those listed as Giuliani’s many creditors.
As RadarOnline.com previously reported, Giuliani’s Chapter 11 bankruptcy filing in New York on Thursday came weeks after the disgraced former Trump lawyer was described as “penniless” by biographer Andrew Kirtzman.
Kirtzman noted that while Giuliani was once worth as much as $100 million, he was “going broke” because of ten civil lawsuits, two disbarment hearings, and a sexual harassment lawsuit filed by a former employee.
“Well, I mean, Giuliani’s going broke,” Kirtzman said in September. “He’s going broke and he’s facing prison.”
Giuliani is between $100 million to $500 million in debt and only possesses between $1 million to $10 million in assets.
“And, you know, his catastrophic fall is just one of the great, kind of, rise and falls of our generation,” the biographer continued. “I mean, Giuliani was once worth $100 million.”
“I mean, he lived very well and now he’s penniless and facing prison. It’s an extraordinary story.”
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Meanwhile, Giuliani’s bankruptcy filing came just hours after Judge Beryl Howell ruled that Giuliani must expedite his $148 million settlement to Freeman and Moss.
The federal judge acknowledged that Freeman and Moss had “good cause” to worry about not receiving the nearly $150 million from Giuliani, and the judge also referred to Giuliani as an “unwilling and uncooperative litigant.”
A D.C. jury found Giuliani liable of defamation against Georgia election volunteers Ruby Freeman and Shaye Moss.
To make matters worse for the embattled former Trump lawyer, Freeman and Moss filed a second defamation lawsuit against Giuliani on Monday after he repeated false claims about the mother-daughter pair despite already being found liable for defamation.
“Everything I said about them is true,” Giuliani said after Friday’s $148 million defamation judgment before adding that he did not “regret a damn thing.”
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