Rudy Giuliani declares bankruptcy after $148M judgment
Former New York City Mayor Rudy Giuliani Files for Bankruptcy After Court Loss
In a stunning turn of events, former New York City Mayor Rudy Giuliani has filed for bankruptcy just days after being ordered to pay $148 million to defamed Georgia poll workers. This comes as a major blow to Giuliani, who served as attorney to former President Donald Trump.
According to a report by Bloomberg News, Giuliani claims to have only $10 million in assets but is burdened with up to $500 million in outstanding debt. This dire financial situation has led him to seek Chapter 11 protections.
Giuliani’s bankruptcy attorneys, Heath Berger and Gary Fischoff, released a statement explaining that this filing will provide the necessary time and space for Giuliani to pursue an appeal in the Georgia case. They also emphasized that the ex-mayor’s inability to pay such a hefty amount should not come as a surprise to anyone.
Last week, a Washington, D.C., jury ruled that Giuliani had defamed the poll workers, ordering him to pay nearly $150 million in damages. The breakdown of the judgment includes significant amounts for defamation and emotional distress suffered by the plaintiffs, Ruby Freeman and Shaye Moss. Additionally, punitive damages of $75 million were awarded to both Freeman and Moss.
Unfazed by the ruling, Giuliani called it “absurd” and vowed to appeal, stating, “I don’t regret a damn thing.”
However, his attorney in the Georgia case, Joe Sibley, expressed concern that if future appeals fail, the financial consequences for Giuliani would be devastating, comparing it to “the civil equivalent of the death penalty.”
It is important to note that Giuliani still faces further legal troubles in Georgia, including charges of racketeering and conspiracy. He is also being sued for defamation by Dominion Voting Systems and Smartmatic Corp., both of which he accused of involvement in election rigging.
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What potential implications does Giuliani’s bankruptcy filing have for other figures involved in the “Stop the Steal” movement
Y to former President Donald Trump and was once regarded as a prominent figure in American politics.
The bankruptcy filing follows a recent court decision that found Giuliani liable for defamatory statements he made concerning the integrity of the 2020 presidential election. In the wake of Trump’s defeat, Giuliani took to the media to voice unsubstantiated claims of widespread voter fraud, including baseless allegations against poll workers in Georgia.
The lawsuit, brought forth by Dominion Voting Systems, accused Giuliani of spreading false information that harmed the company’s reputation and caused financial losses. The court agreed with Dominion’s claims, leading to the significant financial judgment against Giuliani.
For Rudy Giuliani, this bankruptcy filing represents a new low in a career that was once marked by high-profile successes. As a former federal prosecutor, Giuliani became known for his role in dismantling organized crime in New York City during the 1980s. His leadership during the aftermath of the 9/11 terrorist attacks also earned him widespread acclaim.
However, in recent years, Giuliani’s reputation has been tarnished by his involvement with Trump and his controversial actions as the former president’s personal attorney. From his attempts to dig up dirt on political opponents to his involvement in the Ukraine scandal that led to Trump’s first impeachment, Giuliani’s reputation suffered significant damage.
Now, with his bankruptcy filing, Giuliani faces not only financial ruin but also the prospect of his legacy being permanently marred. The bankruptcy process will force Giuliani to disclose his assets, income, and liabilities, providing the public with a glimpse into his financial affairs.
Additionally, this bankruptcy filing could have broader implications for the so-called “Stop the Steal” movement, which sought to overturn the results of the 2020 presidential election. Giuliani’s defeat in court and subsequent financial troubles could serve as a warning to other high-profile figures who have advanced baseless claims of election fraud.
The filing for bankruptcy comes at a time when Giuliani’s personal and professional life appear to be spiraling downward. Following the raid on his home and office earlier this year by federal investigators, Giuliani has faced mounting legal pressure and scrutiny.
While it is too early to predict the long-term consequences of Giuliani’s bankruptcy filing, it is clear that this represents a significant setback for the former mayor. With his reputation in tatters and his financial future uncertain, it remains to be seen how Giuliani will navigate this latest chapter in his tumultuous career.
In conclusion, the news of Rudy Giuliani filing for bankruptcy just days after being ordered to pay a substantial sum to defamed Georgia poll workers comes as a shocking turn of events. This development deals a major blow to Giuliani’s reputation and legacy as a former New York City mayor and high-profile attorney. Only time will tell how Giuliani will recover from this setback, but it is unquestionably a significant turning point in his already tumultuous career.
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