In a surprising twist of events, former New York City Mayor filed for bankruptcy amid mounting legal troubles and debts. The timing of this move has raised eyebrows, given the recent court ruling ordering Giuliani to pay nearly $150 million to a group of Georgia election workers. It seems that Giuliani is attempting to rid himself of this substantial financial burden.
According to his legal team, the decision to file for bankruptcy was not unexpected, as it is a means to seek protection from creditors. The major claim against Giuliani stems from the lawsuit filed by the aforementioned Georgia election workers, but it is not the only financial challenge he faces. He also owes approximately $1 million in unpaid taxes for two consecutive years. Additionally, Giuliani has accrued $1.7 million in unpaid legal bills, primarily related to his involvement in promoting conspiracy theories surrounding the 2020 elections. Surprisingly, a $30,000 unpaid phone bill has been added to the list of his financial woes.
While Giuliani has listed $10 million in assets, details regarding these assets remain undisclosed. It is known that he owns two properties, with plans to sell his New York apartment for $6 million. However, it is uncertain whether these assets will be sufficient to cover his outstanding debts.
Furthermore, Giuliani faces several unresolved lawsuits that could potentially impact his financial situation. Three defamation lawsuits are pending against him, all linked to his role in spreading election-related conspiracy theories. In addition, he is embroiled in a lawsuit initiated by Hunter Biden, accusing Giuliani of hacking into his laptop. Another lawsuit has been filed by a former employee alleging harassment, and a grocery store worker has sued Giuliani for $2 million, claiming he was falsely arrested due to the former mayor's actions.
While Giuliani's lawyers claim that the bankruptcy filing is a strategic move, his creditors, particularly the Georgia election workers, remain determined to pursue their claims. Undeterred by the bankruptcy maneuver, they have filed a second defamation lawsuit against him, demanding justice for the false allegations already proven in court.
Giuliani's decision to seek bankruptcy protection serves as a preemptive measure to shield his assets and avoid the overwhelming financial obligations that loom ahead. As this legal battle unfolds, it remains to be seen how Giuliani's bankruptcy filing will impact the resolution of these lawsuits and whether he will be able to alleviate the financial strain caused by his legal troubles.
