Giuliani seeks bankruptcy after $148 mln judgment in defamation case -filing
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https://www.reuters.com/legal/giuliani-seeks-bankruptcy-after-148-mln-judgment-defamation-case-filing-2023-12-21/
The filing also listed President Joe Biden's son, Hunter Biden, as a creditor, without specifying the amount Giuliani owed him.
Aha! It's the smoking gun that they've been looking for all along! Direct evidence that Hunter Biden is accepting payments from a foreign agent!
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this is very very funny but also don't these sort of business ghouls just see this as paperwork and not a horrible shame thing like we would? like a sacrifice bunt or something
Ya I think drumpf filed like 4 times and people still think he can run a business.
I guess I don't fully understand how someone can file for bankruptcy but still be rich after. If all it does is ruin your credit for 10 years or whatever the cutoff is, then why should the rich care if they file? They already have money and enough of it that investors don't really care about their credit. Shouldn't the government be garnishing wages or something at least?
There are different types of bankruptcy, for both businesses and individuals. One form of bankruptcy occurs when you plan to pay your creditors but need the courts help to consolidate and set terms because you have too many creditors or terms you can't comply with. There is also a kind that allows you to discharge certain types of debt.
I'd have to look into it but I'm guessing Giuliani is filling the structuring his debt kind because he owes dramatically more than he is worth. His debt likely can't be fully discharged in bankruptcy, but a judge can allow for the orderly sale of assets and structuring of payment, rather than a repossession frenzy.
Edit: he filed for chapter 11, which is the kind that will restructure his assets and set up a payment plan to his creditors, including the recent legal judgements against him.
Many do, but probably not this time. Trump stopped taking his phone calls a while back, and he was scratching around for loose change, like doing Cameo. He probably doesn't have $147M in assets.
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I agree with your general view of Giuliani, but disparaging bankruptcy isn't the way to go.
More debts should be dismissable via bankruptcy, imo
Bankruptcy is for people with no other option. Not for clowns to use to get out of paying warranted fines for having been a piece of shit grifting traitor.