Rudy Giuliani files for bankruptcy, citing liabilities of up to $500 million: Court filing

Former Trump attorney Rudy Giuliani filed for bankruptcy Thursday in New York, citing that he has up to $500 million in liabilities, according to a new court filing that comes after he was ordered to pay $148 million in the defamation case filed by Georgia election workers. 

His Chapter 11 bankruptcy petition lists between $1 million and $10 million in assets and between $100 million and $500 million in liabilities, according to the court filing.

Chapter 11 bankruptcy is commonly known as "reorganization" bankruptcy, which is usually filed by businesses in order to keep the companies afloat while paying creditors over time. 

The filing comes after a court ordered Giuliani last week to pay $148 million for defaming former election workers Ruby Freeman and her daughter, Shaye Moss.

The former New York City mayor is facing criminal charges, sanctions and several civil lawsuits. Before the defamation ruling, Giuliani listed his 3-bedroom Manhattan apartment for $6.5 million in July and said that his legal problems left him without cash. 

"The filing should be a surprise to no one," GIuliani's bankruptcy lawyers Heath Berger and Gary Fischoff said, according to Bloomberg. "No person could have reasonably believed that Mayor Giuliani would be able to pay such a high punitive amount."

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