Rudy Giuliani ought to promote $3.5 million Florida condominium, collectors declare

Collectors wish to power Rudy Giuliani to promote his $3.5 million Florida condominium to assist pay his important money owed, in line with a court docket document filed on Friday.

The previous New York Metropolis mayor filed for chapter safety in December, citing myriad unpaid money owed together with a $148 million cost to 2 Georgia election ballot staff who he falsely claimed had tampered with the 2020 election ballots whereas he was serving as a lawyer for former President Donald Trump.

Giuliani has argued that he doesn’t have the funds to pay his money owed, the Friday court docket submitting stated: “According to the Debtor’s counsel, ‘there’s no pot of gold at the end of the rainbow.'”

However the doc cited a flurry of bills Giuliani at the moment pays to keep up his life-style.

For instance, Giuliani spends tens of 1000’s of {dollars} a month to keep up his Florida condominium. In January, in line with the doc, he additionally racked up greater than $26,200 in bank card funds on 60 Amazon transactions, with fees for Netflix, Prime Video, Kindle, Audible, Paramount+, Uber rides and extra.

Collectors see his actual property belongings as honest recreation to recoup what’s owed. They stated his “pre-war co-op” condominium on New York Metropolis’s Higher East Facet is exempt since it’s his main residence.

Nevertheless, the doc stated, Giuliani spends “approximately 20-30% of his time in Florida” and due to this fact collectors claimed the $3.5 million condominium have to be offered.

“It is merely a matter of when, not if, the Debtor will have to sell the Florida Condo in order to distribute the proceeds thereof to creditors,” the submitting stated.

Collectors additionally demanded that Giuliani safe owners insurance coverage for his Florida and New York Metropolis residences since they’re his two most respected belongings and “if anything were to happen to either of them, such loss would be a significant impediment to creditor recoveries.”

Giuliani has claimed he can not afford the insurance coverage, the court docket doc stated.

Chapter legal professionals for Giuliani didn’t instantly reply to a request for remark.

The previous Trump adviser has confronted a slew of authorized woes for his position in making an attempt to overturn the 2020 election outcomes, all of which have helped land him in chapter court docket. His chapter filing from December estimated that he has between $1 million and $10 million value of belongings and practically $152 million to repay, together with what’s owed to the IRS and regulation companies.