The image shows Rudy Giuliani, the former Mayor of New York, leaving his apartment building in New York on Wednesday, August 23, 2023. He was captured by the lens of AP photographer Seth Wenig while he was speaking to reporters.
In Rudy Giuliani’s bankruptcy case, the judge approved the debtor’s request to enlist the services of Sotheby’s International Realty to sell the former mayor’s lavish multi-million dollar apartment in New York City. The decision was deemed as a prudent move in the interest of the business.
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In accordance with the Chapter 11 bankruptcy proceedings, Judge Lane has issued a set of orders dictating the actions that Sotheby’s must take and those that are not required of them. These orders have been agreed upon by the parties involved in the proceedings.
The court and Giuliani’s creditors mandate weekly updates on any potential buyers’ interest in the property.
At least once a week, starting the Thursday after this Order is entered, Sotheby’s, with the Debtor’s full consent, must update the Debtor’s counsel and the Official Committee of Unsecured Creditors’ counsel about all Residence-related activities. This update, which can be an email, should include details on showings, open houses, outreach, inquiries, and any other sale-related information, the judge said.
Lane added that if there are any offers, Sotheby’s must send those documents to creditors’ lawyers before deciding to accept, reject, or counter the offer and before communicating with the party who made the offer.