Rudy Giuliani Files For Bankruptcy In Wake Of $146-Million Judgment

Rudy Giuliani, known for his role as former President Donald Trump's personal lawyer, has filed for Chapter 11 bankruptcy protection. This move comes in the wake of a substantial civil judgment against him.

Giuliani, who also served as the mayor of New York City, is facing financial challenges due to a nearly $150-million defamation judgment related to his actions during his tenure as Trump's lawyer.

CNBC reports the bankruptcy filing, submitted in a New York court, aims to temporarily halt the enforcement of the $146-million defamation judgment awarded to Ruby Freeman and her daughter Shaye Moss. Giuliani falsely accused the two Georgia election workers of ballot fraud following the 2020 election.

Giuliani's financial disclosure in the filing reveals assets valued between $1 million and $10 million against liabilities ranging from $100 million to $500 million.

His debts include nearly $1 million owed to the IRS and the New York State Department of Taxation and Finance. The bankruptcy process will prioritize these tax debts.

Also Read: 'Very Costly Mistake:' Trump's Niece Warns He Could Face Exact Dilemma As Rudy Giuliani For Repeating 'Same Lies' About Georgia Poll Workers

The filing also names several entities and individuals suing Giuliani, including election machine companies Dominion and Smartmatic, President Joe Biden's son Hunter Biden and a former employee alleging sexual harassment and wage theft, according to CNBC.

Chapter 11 bankruptcy is typically used for reorganizing debts, allowing debtors to develop a plan to pay back creditors.

Giuliani's legal team, Heath Berger and Gary Fischoff, said the filing was expected given the magnitude of the defamation judgment. They emphasized that Chapter 11 would provide Giuliani with the opportunity to appeal the judgment while ensuring transparency and fair treatment of all creditors under court supervision.

Now Read: Trump's Colorado Disqualification: New Poll Reveals Majority Approves Verdict, But Most Believe SCOTUS Will Undo Decision

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock.