Bankruptcy attorneys are now urging former New York Mayor Rudy Giuliani to sell his New York and Florida condos “as soon as possible.” They have been pushing to have a trustee appointed to oversee his finances.
According to a court filing submitted on Thursday, creditors have been urging Giuliani to sell his New York City apartment and Florida condominium for several months. The Committee emphasized that he should sell his non-exempt assets, including the Florida condominium, without delay, rather than spending resources on assets that he cannot retain.
In the document, it was emphasized that the debtor’s decision to hold back on selling his multimillion-dollar properties should not be praised, regardless of the method used to cover the associated maintenance costs.
After spreading false allegations about election workers Ruby Freeman and Shay Moss tampering with votes from the 2020 election, a jury awarded them a whopping $148 million. As a result, Giuliani had to file for bankruptcy.
WSB-TV has reported that creditors are pressuring Rudy Giuliani to sell his homes as soon as possible and to stop wasting funds.
In December, when Giuliani filed for bankruptcy under Chapter 11, he disclosed that his assets were less than $10 million while his debt amounted to over $100 million.
Creditors requested a bankruptcy judge to assign a trustee to supervise Guiliani’s finances last month as they allege that he is concealing his expenses and earnings from them.
Earlier this week, it was reported that Giuliani has spent over $200,000 in the past six months since filing for bankruptcy, as revealed by court documents.
Giuliani is currently supporting himself through a variety of sources, including speaking engagements, personal services, and his own entrepreneurial endeavors. Notably, he has launched a line of coffee called “Rudy Coffee” and also hosts his own podcast. Despite not currently holding a political office, Giuliani remains active and engaged in public life.
The creditors, in their recent filing, are still urging the court to appoint a trustee. They point out that Giuliani is still claiming he is working on improving his compliance with administrative guidelines, but admits to failing to comply with statutory reporting requirements.
The document emphasizes that the debtor’s statements cannot be taken at face value based on their prepetition conduct and behavior in the bankruptcy case. It states, “It is clear that the debtor’s words should not be blindly accepted as the truth.”
The case has a hearing scheduled for June 17 at present.