Former New York City Mayor Rudy Giuliani has lost his bankruptcy protection, allowing creditors to move forward with pursuing his assets following a recent court decision. The bankruptcy protection was sought by Giuliani after being ordered to pay $148 million to two Georgia election workers for defamation claims related to the 2020 election.
The federal bankruptcy court judge, Sean Lane, ruled to end Giuliani's bankruptcy due to his lack of financial transparency since filing for bankruptcy over six months ago. The judge noted Giuliani's failure to provide a clear picture of his financial affairs, including lack of disclosure on company finances and recent wire transfers.
Giuliani, who claims to be worth around $10.6 million, primarily in the form of two properties in New York City and Palm Beach, Florida, may now face creditors seeking liens on these assets. Creditors also aim to seize other assets such as bank accounts, a sports car, luxury watches, baseball memorabilia, and championship rings.
Despite the ruling, Giuliani's attorneys have indicated plans to appeal the defamation verdict and contest any liens sought by creditors in state court. The total value of Giuliani's assets remains uncertain, with creditors alleging undervaluation or incomplete disclosure of asset worth.
As creditors gear up to pursue Giuliani's assets, including valuable properties and personal belongings, the former mayor faces mounting financial challenges in the aftermath of the defamation lawsuit. The legal battle between Giuliani and his creditors is expected to intensify in the coming days as both parties seek to protect their interests.
