Rudy Giuliani's Bankruptcy Case Was Tossed Out – He Owes $152 Million And Lawyer Says He'll 'Join Ranks Of Homeless' If Forced To Sell Home

Rudy Giuliani's financial situation has been a topic of much speculation since he filed for bankruptcy after a judge ruled last December that he owed $148 million in damages to two former Georgia election workers. Giuliani claimed to have assets between $1 million and $10 million against debts totaling an estimated $152 million. Despite this, the exact amount of his net worth remains uncertain.

Don't Miss:

• The average American couple has saved this much money for retirement — How do you compare?
• Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.
• This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10.

After months of spending, while claiming financial distress, a judge dismissed his bankruptcy case. Giuliani's lawyers stated he could not pay the fees owed to his creditors' financial adviser, a key condition for closing the case.

In a last-minute deal, Giuliani agreed to pay $400,000 to the adviser, with $100,000 upfront and the rest from the sale of either his Upper East Side apartment or his Florida condo. According to Business Insider, the judge put a lien on his properties to ensure he paid. 

See Also: Will the surge continue or decline on real estate prices? People are finding out about risk-free real estate investing that lets you cash out whenever you want.

Last year, Giuliani listed his three-bedroom, three-bathroom Upper East Side apartment for $6.5 million, later reducing the price to $5.7 million. The property, located steps from Central Park, features a wood-paneled library and a grand dining room with a conservatory. Despite its grandeur, the home is still on the market.

Giuliani hasn't been required to list his two-bedroom lakefront Palm Beach condo, estimated to be worth around $3.5 million. New York Curbed reported his lawyer noted in a motion, "Surely the committee does not intend the debtor to join the ranks of the homeless?"

Trending: Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US. Investing in its booming real estate market has never been more accessible.

The new deal allows Giuliani to avoid testifying under oath about his finances but does not absolve him of approximately $540,000 in back taxes owed to the IRS or his other legal debts. 

With the bankruptcy case settled, former election workers Ruby Freeman and Shaye Moss can now proceed in the D.C. court system to seek the $148 million they are owed. Giuliani must rely on the remaining assets or find new ways to cover his obligations.

The bankruptcy case’s dismissal also gives Giuliani the opportunity to appeal the defamation case in an attempt to have it dismissed or to reduce the damages. However, this dismissal also allows other creditors to file separate lawsuits against Giuliani.

Read Next:

• A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.
• If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?