Rudy Giuliani has agreed to a last-minute deal to end his personal bankruptcy case and pay about $400,000 to a financial adviser hired by his creditors.
Maybe I dont know the true definition of bankrupt then. But I feel like owning multimillion dollar properties you can borrow against should probably disqualify you. Unless he already did that. Which is possible.
IANAL, but as an outside observer the bankruptcy stuff always seemed to me like a bit of a hail Mary/stall tactic, not a legitimate legal remedy that would actual pan out for old Rudy.
This new agreement seems to suggest that the legal system also views it this way.
Maybe I dont know the true definition of bankrupt then. But I feel like owning multimillion dollar properties you can borrow against should probably disqualify you. Unless he already did that. Which is possible.
IANAL, but as an outside observer the bankruptcy stuff always seemed to me like a bit of a hail Mary/stall tactic, not a legitimate legal remedy that would actual pan out for old Rudy.
This new agreement seems to suggest that the legal system also views it this way.
Bankruptcy is owing considerably more than your assets are worth, and having no realistic way of raising enough to pay back what you owe.
A few low multimillion dollar properties doesn’t put much of a dent in what Rudy owes