Former New York City Mayor and Donald Trump lawyer Rudy Giuliani has been instructed to settle a bill of approximately $300,000 owed to a forensic accounting firm, Global Data Risk, for their services in tracking his finances during his now-abandoned bankruptcy case.
The disagreement regarding the amount Giuliani owes to the accounting firm was the final remnant of his attempts earlier this year to stave off creditors, to whom he owes nearly $150 million.
Giuliani had contested the fees charged by the accounting firm, arguing that expenses such as meeting fees, travel costs, and interview time should be reduced. However, Judge Sean Lane of the US Bankruptcy Court in White Plains, New York, ruled in favor of the accounting firm, granting them almost the full amount they had requested.
During a court hearing, Judge Lane expressed concern over the lack of financial transparency exhibited by Giuliani, which necessitated the forensic accounting work.
Giuliani terminated his bankruptcy case over the summer after the federal judge grew frustrated with his lack of financial disclosure. The bankruptcy filing had temporarily shielded Giuliani's assets from seizure by creditors, including his properties and valuable possessions like New York Yankees memorabilia and luxury watches.
Currently, creditors Ruby Freeman and Shaye Moss are pursuing legal action to compel the sale of Giuliani's assets, including a penthouse co-op apartment in Manhattan and a Florida condo, to recover the debts owed to them. Freeman and Moss were awarded nearly $150 million in damages by a jury for defamation by Giuliani following the 2020 election.
Global Data Risk, the accounting firm hired to investigate Giuliani's finances on behalf of his creditors, is also seeking prompt payment for their services. While Giuliani has placed $100,000 in escrow to cover a portion of the bill, the remainder is expected to be deducted from the proceeds of the asset sales as Freeman and Moss seek to recover their debts.
