Former New York City Mayor Rudy Giuliani has been stripped of his bankruptcy protection, allowing creditors to go after his assets following a defamation lawsuit. A judge ruled on Friday to end Giuliani’s bankruptcy proceedings, which had been ongoing for over six months. This decision comes after Giuliani failed to provide financial transparency, leading to concerns about potential conflicts of interest.
Giuliani, who claims to be worth around $10.6 million, will now face creditors seeking to collect over $150 million he owes. Creditors, including Ruby Freeman and Shaye Moss, plan to seek liens on Giuliani’s properties in New York City and Palm Beach. In addition to real estate, creditors may go after Giuliani’s bank accounts, luxury watches, sports car, and baseball memorabilia.
Giuliani’s downfall began following his involvement in post-2020 election legal battles on behalf of former President Donald Trump. Last week, Giuliani lost his law license in New York for spreading false information about election results. He is also facing criminal charges in Arizona and Georgia related to election challenges.
Despite plans to appeal the defamation jury verdict in favor of Moss and Freeman, Giuliani has agreed to end his bankruptcy proceedings. Creditors accused him of exploiting the system to avoid paying debts. Giuliani’s financial troubles may worsen as various lawsuits and unpaid bills continue to pile up.
These latest developments mark a stark decline for Giuliani, once a prominent figure in politics and society. The fallout from his post-election actions has left him facing mounting legal and financial challenges.
