Rudy Giuliani, the previous private lawyer for former U.S. President Donald Trump, arrives to the E. Barrett Prettyman U.S. District Courthouse on December 15, 2023 in Washington, DC.
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Rudy Giuliani filed for Chapter 11 bankruptcy safety in New York on Thursday, citing debts that embody an almost $150 million current civil judgment towards him for defaming Georgia election staff whereas performing as a lawyer for former President Donald Trump.
The submitting by Giuliani got here a day after a federal decide in Washington, D.C., ordered the previous New York City mayor to start paying the 2 election staff the damages he owed for their lawsuit towards him, and three days after the ladies filed a brand new lawsuit searching for to bar him from defaming them once more.
Giuliani’s submitting estimates he has belongings price between $1 million and $10,000 million, and estimated liabilities of between $100 million and $500 million.
Giuliani is on the hook for $146 million to Ruby Freeman and her daughter Shaye Moss on account of a jury verdict final week in D.C. federal courtroom. Giuliani, whereas representing Trump in efforts to reverse his loss on the heels of the 2020 election, had falsely accused these two election staff of poll fraud.
His bankruptcy attorneys in a press release, stated, “The submitting needs to be a shock to nobody.”
“No particular person might have moderately believed that Mayor Giuliani would be capable of pay such a excessive punitive quantity” from the defamation case, the attorneys, Heath Berger and Gary Fischoff stated.
“Chapter 11 will afford Mayor Giuliani the chance and time to pursue an attraction, whereas offering transparency for his funds beneath the supervision of the bankruptcy courtroom, to make sure all collectors are handled equally and pretty all through the method,” the attorneys stated.
– Additional reporting by CNBC’s Jim Forkin
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