Giuliani Files for Bankruptcy After $148M Defamation Ruling

Rudy Giuliani, an ally of former President Donald Trump, filed for bankruptcy Thursday, days after a jury decided he must pay more than $148 million in damages to two former Georgia election workers he defamed by accusing them of helping to rig the 2020 election.

Giuliani, who supported Republican Trump's claims of a stolen 2020 election, filed the petition in U.S. Bankruptcy Court for the Southern District of New York, court documents showed. 

In his filing Thursday, the former New York City mayor listed nearly $153 million in existing or potential debts, including close to a million dollars in tax liabilities, money he owes his lawyers and many millions of dollars in potential legal judgments in lawsuits against him. He estimated his assets to be between $1 million and $10 million.

The biggest debt is the $148 million judgment in the Georgia case.'

"The filing should be a surprise to no one," said Giuliani's political adviser, Ted Goodman in a statement. "No person could have reasonably believed that Mayor Rudy Giuliani would be able to pay such a high punitive amount. Chapter 11 will afford Mayor Giuliani the opportunity and time to pursue an appeal, while providing transparency for his finances under the supervision of the bankruptcy court, to ensure all creditors are treated equally and fairly

Declaring bankruptcy won't necessarily erase the $148 million awarded to the former Georgia election workers, Ruby Freeman and Wandrea’ “Shaye” Moss. Bankruptcy law does not allow for the dissolution of debts that come from a “willful and malicious injury” inflicted on someone else.

Last week’s jury verdict was the latest and costliest sign of Giuliani’s mounting financial strain, exacerbated by investigations, lawsuits, fines, sanctions, and damages related to his work helping Trump.

In September, Giuliani’s former lawyer Robert Costello sued him for about $1.4 million in unpaid legal bills.

Giuliani hosts a daily radio show in his hometown on a station owned by a local Republican grocery store magnate, as well as a nightly streaming show, which he calls “America’s Mayor Live," on social media.

This report includes material from Reuters and The Associated Press.