Rudy Giuliani has reached a last-minute agreement to settle his personal bankruptcy case by paying approximately $400,000 to a financial adviser hired by his creditors. This deal comes after a federal judge in White Plains, New York, dismissed Giuliani's bankruptcy case due to his repeated failures to disclose income sources and comply with court orders.
Giuliani's lawyers initially claimed he lacked the funds to pay the creditors' financial adviser as required by bankruptcy laws. However, a recent agreement filed in court outlines Giuliani's commitment to provide $100,000 to his lawyers to assist in settling the debt. The remaining amount owed to the financial adviser, Global Data Risk, will be covered by proceeds from the sale of Giuliani's properties in New York City and Florida, valued at $5.6 million and $3.5 million, respectively.
The creditors, including former Georgia election workers who won a defamation judgment against Giuliani, expressed concerns over his false claims regarding the 2020 election. The agreement allows Global Data Risk to place liens on Giuliani's properties to ensure payment of their fees.
Giuliani's bankruptcy was just one of several legal challenges he is currently facing. The 80-year-old former mayor of New York City was recently disbarred in New York for making false statements about the 2020 election. He also faces potential disbarment in Washington and criminal charges in Georgia and Arizona related to his efforts to overturn the election results.
Despite listing significant debts in his bankruptcy filing, Giuliani reported having limited cash on hand and relying on a retirement account as his main source of income. The dismissal of his bankruptcy case now allows his creditors to pursue enforcement of the $148 million defamation judgment against him.
