According to a judge's declaration, Rudy Giuliani is indebted to the organization that handled his bankruptcy proceedings, to the tune of $300,000.
The ongoing argument regarding Giuliani's debt towards accounting firm Global Data Risk was one of his last attempts this year to postpone payments to his substantial debtors, who he owes around $150 million.
Giuliani contested before Judge Sean Lane of the US Bankruptcy Court in White Plains, New York, stating that the accounting firm's fees, such as charges for meetings, travels, and time spent interviewing for asset assessment, should be reduced.
However, Lane is mostly favoring the accounting firm's demands.
At a hearing on Tuesday, Lane stated, "There was an alarming and unprofessional absence of financial integrity from the debtor... which necessitated this intervention."
Giuliani discontinued his bankruptcy case during the summer due to Judge Lane's growing frustration with Giuliani's financial obscurity. The bankruptcy temporarily safeguarded Ruby Freeman and Shaye Moss, election workers from Georgia, from confiscating his condos, locking his bank accounts, and attempting to seize any valuable possessions, including New York Yankees memorabilia and luxury watches.
Currently, Freeman and Moss are engaged in court proceedings to force the sale of Giuliani’s assets, including a luxurious penthouse co-op apartment in Manhattan's Upper East Side and a worthwhile Florida condo.
Freeman and Moss rank first amongst Giuliani's numerous creditors, due to a jury awarding the mother-daughter duo nearly $150 million following Giuliani's defamatory remarks post-2020 election.
Global Data Risk has also been attempting to collect promptly, as they were enlisted to scrutinize Giuliani's wealth on behalf of his creditors. Most of their work remained concealed due to Giuliani's premature withdrawal from bankruptcy proceedings.
Giuliani has already set aside $100,000 as security to cover some of Global Data Risk's fees. The rest is expected to be deducted from what Freeman and Moss get from selling Giuliani's assets, according to court records.
Giuliani's controversy with Global Data Risk and his substantial debt has become a prominent topic in political discussions. Even amidst the legal battle, Giuliani is required to set aside funds to cover Global Data Risk's fees, highlighting the financial implications of his financial mismanagement in politics.
Given Giuliani's ongoing legal battles, politics may take a different turn as the sale of his assets, including his luxury penthouse and Florida condo, could impact his future political initiatives.
