(RepublicanView.org) – In the past, when Giuliani and his lawyers missed crucial financial disclosure dates, U.S. Bankruptcy Judge Sean Lane voiced his concern about the case’s advancement.
The New York court rejected former NYC mayor Rudy Giuliani’s bankruptcy petition on Friday, July 12. This will allow additional civil actions against the former attorney to move forward. His creditors and legal opponents will also be able to seek the funds that he owes.
Election workers Ruby Freeman and Shaye Moss were awarded a $148 million defamation victory against Giuliani in December. This followed his claims about the past election.
In December of last year, just after two former Georgia election workers received a substantial judgment from a jury, Giuliani announced his bankruptcy. The bankruptcy filing halted the collection of that debt.
According to Judge Lane’s 22-page ruling, Giuliani has consistently neglected his reporting responsibilities and failed to offer the required financial transparency that is anticipated of a debtor in possession.
Giuliani finally consented to the dismissal of his bankruptcy case earlier this week after the court repeatedly denied his appeals of the defamation decision.
According to the finding in their favor, Freeman and Moss may now seek compensation, which is anticipated to be far less than the $148 million verdict. Other creditors having active court actions against Giuliani at previous stages may have less financial recompense available if the two are successful in collecting the award.
Now that the case has been dismissed, Giuliani’s federal bankruptcy protections against creditors, including judgments, collection activities, foreclosures, and repossessions, are null and void. A court order to confiscate his assets is one of several options available to his creditors as they seek payment for the money he owes.
It also gives the two election workers the option to seek the judgment’s execution in a subsequent court appearance. The primary bankruptcy attorney stated that they were determined to move quickly.
In his bankruptcy filing, Giuliani detailed that he had around $153 million in actual or future debts. The sum includes around $1 million in federal and state tax obligations, unpaid legal bills, and the potential for millions more in judgments from continuing cases. Back then, he estimated the worth of his assets to be between $1 million and $10 million.
According to his most recent bankruptcy financial filing, by the end of May, he had almost $94,000 in cash. The cash on hand for his business, Giuliani Communications, was also close to $237,000. He started taking money out of his almost $2.5 million retirement account in 2022. It had a little over $1 million in May.
Copyright 2024, RepublicanView.org
