Rudy Giuliani files for bankruptcy with debts of $153M

Rudy Giuliani has filed for bankruptcy in New York, owing $153 million to creditors including Hunter Biden. The former New York mayor, who led the effort on behalf of Donald Trump to challenge the 2020 election results, said he had less than $10 million in assets.

Last Friday, Giuliani was placed on the precipice of financial ruin when a jury ordered him to pay $148 million in damages to election workers Ruby Freeman and Shaye Moss, alleging they tried to rig the vote for Joe Biden.

In August, he admitted he was having “financial problems” as he fought multiple lawsuits, saying he didn't have enough money to defend himself. Giuliani filed his petition in the U.S. Bankruptcy Court for the Southern District of New York, court documents showed.

In the filing, Giuliani said he had between $100 million and $500 million in debt and $1 million to $10 million in assets.

The filing listed President Joe Biden's son Hunter Biden as one of his creditors, without specifying the amount Giuliani owed him. Hunter Biden sued Giuliani in September for violating his privacy over data allegedly taken from his laptop.

Giuliani also named the Internal Revenue Service and the New York State Department of Taxation and Finance among his creditors.

In a statement, Heath Berger and Gary Fischoff, Giuliani's bankruptcy lawyers, said the move was predictable following the defamation lawsuit.

They said: 'The filing should not come as a surprise to anyone. “No one could have reasonably believed that Mayor Giuliani could pay such a large penalty.”

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