Creditors are ramping up efforts to force former New York City Mayor Rudy Giuliani to sell his $3.5 million Florida condo to assist in the repayment of his extensive debts. Giuliani filed for bankruptcy protection in December, citing a multitude of unpaid debts, including a $148 million payment to two Georgia election poll workers. This payment was based on false claims made by Giuliani that the workers had tampered with the 2020 election ballots while he was representing former President Donald Trump.
Giuliani has asserted that he lacks the necessary funds to settle his debts, with his legal counsel stating that “there’s no pot of gold at the end of the rainbow.” Despite this, the court filing highlighted the significant expenses Giuliani continues to incur to maintain his lifestyle. For instance, he spends tens of thousands of dollars monthly on his Florida condo and amassed over $26,200 in credit card payments in January alone. These charges included transactions on Amazon, Netflix, Prime Video, Kindle, Audible, Paramount+, and Uber rides.
Creditors are eyeing Giuliani’s real estate assets, viewing them as viable options to recover what is owed to them. While his “pre-war co-op” apartment in New York City’s Upper East Side is considered exempt since it serves as his primary residence, his Florida condo is not afforded the same protection. The filing noted that Giuliani spends a substantial amount of time in Florida, prompting creditors to demand the sale of the $3.5 million property for debt repayment.
In addition to the push for the sale of his Florida condo, creditors have also insisted that Giuliani secure homeowners insurance for both his Florida and New York City residences, as they represent his most valuable assets. The document emphasized that any damage or loss to these properties would hinder creditor recoveries significantly. However, Giuliani claims that he cannot afford the insurance, further complicating the situation. Though bankruptcy lawyers for Giuliani have been contacted for comment, they have yet to respond.
Giuliani’s involvement in attempting to overturn the 2020 election results has resulted in a series of legal challenges, ultimately leading to his bankruptcy filing. The filing estimated his assets to fall between $1 million and $10 million, with debts totaling nearly $152 million, including amounts owed to the IRS and various law firms. As the legal battles continue, Giuliani remains embroiled in financial turmoil, facing pressure from creditors to liquidate assets and settle his debts.
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