Rudy Giuliani files for bankruptcy, days after being charged £117 million in defamation case

Rudy Giuliani, the ex-New York City mayor and former advisor to Donald Trump, filed for bankruptcy on Thursday after a recent jury verdict required him to pay out $148 million (£117 million) for losing a defamation case.

Last week a court ruled Mr Giuliani had to make the huge payout to two former Georgia election workers, after he doggedly pursued Trump's lies about illegitimate voting during the 2020 election.

Mr Guiliani listed almost $153 million in existing or potential debts, including money owed to the state, lawyers, and millions of dollars in potential judgements in lawsuits against him.

He estimated his remaining assets were worth between $1 million and $10 million.

Ted Goodman, a political adviser and spokesperson for Mr Giuliani, said in a statement that his decision to seek bankruptcy protection “should be a surprise to no one” because “no person could have reasonably believed that Mayor Giuliani would be able to pay such a high punitive amount.”

But declaring bankruptcy is unlikely to lead to the $148 million verdict being erased.

Bankruptcy law in the US does not allow for debts to be dissolved if they were the result of "willful and malicious injury" inflict on somebody else, as Mr Giuliani's were.

Even after the eye-wateringly expensive verdict, Mr Guiliani repeated his claims that the 2020 election was stolen from Trump.

He said he had done nothing wrong, and that he would continue to make those claims even if it resulted in him losing all of his money or receiving a prison sentence.

The statements prompted Ruby Freeman and Shaye Moss, the two Georgia election workers, to sue Mr Giuliani again this week.

The 79-year-old had built up significant wealth as a security consultant, but his finances tumbled into dire straits as investigations, lawsuits, fines, sanctions and damages costs relating to his legal work with Trump piled up.

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know…