Rudy Giuliani declares bankruptcy after $150 million defamation verdict

Rudy Giuliani filed for bankruptcy in New York federal court on Thursday, days after a jury awarded nearly $150 million to two former Georgia election workers for defamation.

Giuliani listed $100 million to $500 million in debts and $10 million in assets in the filing.

The bankruptcy declaration is another setback for the former New York City mayor, federal prosecutor, and Republican presidential frontrunner after serving as Donald Trump's attorney after the 2020 election.

 Giuliani owes hundreds of thousands to lawyers and accountants and nearly $1 million in taxes.

Three defamation cases over his statements after the 2020 election haven't gone to trial, which could increase his debt if he's ordered to pay damages. 

A day earlier, the federal judge who heard the blockbuster defamation case told Ruby Freeman and Shaye Moss they can sue Giuliani immediately.

Giuliani may ask the bankruptcy court to forgive his debt to Moss and Freeman, as Alex Jones failed to do in his Sandy Hook defamation case.

At the end of the 2020 election defamation case, Giuliani admitted he defamed them with malice, making it harder for him to escape his debt.

Meanwhile, Moss and Freeman's lawyers plan to quickly request liens on Giuliani's New York and Florida properties and investigate potential funders, such as Newsmax, where he has a show.