Rudy Giuliani, the former New York City mayor and lawyer of former US President Donald Trump, has filed for Chapter 11 bankruptcy in a New York Federal Court, as reported by GodzillaNewz. The 69-year-old Republican had claimed defamation against Maria Ryan and other individuals, and it is the appealed judgement of that lawsuit that has led to his bankruptcy.
The former mayor claims that Ryan and her associates spread lies about him that theorised connections to the Ukraine scandal that has surrounded Trump. Giuliani had sued Ryan for postulating that he was illegally receiving payments from the Ukrainian government and other such slanderous speculation. The judgement for this case was passed, awarding Maria Ryan with $1.2 million dollars to cover her legal fees and damages to her reputation. This amount, alongside other legal debts that Giuliani had accrued, led to his bankruptcy.
Giuliani’s bankruptcy petition comes with a hitch: while it does not include the court-ordered award to Maria Ryan, it does include a list of other creditors who are expected to be compensated and an attempt to negotiate a payment plan. The list of creditors includes two former law partners, media consulting firm WNEV LLC, and dozens of other companies and individuals. The Trump Organisation is also named on the list of creditors, indicating that Giuliani is indebted to them in some capacity.
Giuliani is still currently under investigation for his involvement in the Ukraine scandal but he has stated he will use the bankruptcy proceedings to convert all of his debts into one affordable monthly payment. Giuliani has asserted that all of his creditors will be repaid in full, should he be successful in managing his finances.
It seems that Giuliani’s bankruptcy filing is a testament to the power of the law. His rashness in attempting to sue Maria Ryan for defamation has effectively ended in his own financial ruin, as well as reaffirming the significant power of the judicial system to bring justice to those who have suffered wrongfully.
Rudy Giuliani, the former New York City mayor and lawyer of former US President Donald Trump, has filed for Chapter 11 bankruptcy in a New York Federal Court, as reported by GodzillaNewz. The 69-year-old Republican had claimed defamation against Maria Ryan and other individuals, and it is the appealed judgement of that lawsuit that has led to his bankruptcy.
The former mayor claims that Ryan and her associates spread lies about him that theorised connections to the Ukraine scandal that has surrounded Trump. Giuliani had sued Ryan for postulating that he was illegally receiving payments from the Ukrainian government and other such slanderous speculation. The judgement for this case was passed, awarding Maria Ryan with $1.2 million dollars to cover her legal fees and damages to her reputation. This amount, alongside other legal debts that Giuliani had accrued, led to his bankruptcy.
Giuliani’s bankruptcy petition comes with a hitch: while it does not include the court-ordered award to Maria Ryan, it does include a list of other creditors who are expected to be compensated and an attempt to negotiate a payment plan. The list of creditors includes two former law partners, media consulting firm WNEV LLC, and dozens of other companies and individuals. The Trump Organisation is also named on the list of creditors, indicating that Giuliani is indebted to them in some capacity.
Giuliani is still currently under investigation for his involvement in the Ukraine scandal but he has stated he will use the bankruptcy proceedings to convert all of his debts into one affordable monthly payment. Giuliani has asserted that all of his creditors will be repaid in full, should he be successful in managing his finances.
It seems that Giuliani’s bankruptcy filing is a testament to the power of the law. His rashness in attempting to sue Maria Ryan for defamation has effectively ended in his own financial ruin, as well as reaffirming the significant power of the judicial system to bring justice to those who have suffered wrongfully.
