Rudy Giuliani is having a hard time parting with the assets that he needs to offload in order to settle his debts through bankruptcy, and that is creating a lot of problems for him and the people that he has to pay off. Reports suggest that Giuliani is refusing to part with his Florida condo, even though the value of it could settle a lot of his debts. If he won't voluntarily part with it, he will likely be forced to sell it off by his creditors. Ring of Fire's Farron Cousins explains what's happening.
Link - https://www.rawstory.com/rudy-florida...
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
Rudy Giuliani's bankruptcy proceedings are not going very well for the former New York City mayor. According to the creditors who of course have this coalition set up as part of the bankruptcy proceedings. They're the people that Rudy Giuliani owes these more than $100 million to. So they all get a cut of the pie once Giuliani's assets are divvied up. The problem is, according to a recent court filing by these creditors, Rudy Giuliani is refusing to give up his prized property a condo in South Florida worth millions of dollars. Here it is from the court papers filed this past Friday. The committee respectfully requests that this court compel Giuliani to take all necessary steps to sell the Florida condo and obtain homeowner owner's insurance in order to preserve and protect estate resources and abide by his duty to maximize the value of the estate for the benefit of his creditors.
It's also worth noting that this particular property has a $549,000 IRS tax lien on it. So it may not be necessarily that Rudy Giuliani is not wanting to sell it. It might be that Rudy Giuliani's not legally able to sell it because he is got this massive tax lien against it, because again, the dude apparently has no money at all, which of course is why he is going through bankruptcy proceedings in the first place. But it's not just, not just the condo that they've listed in this court filing. Uh, creditors suggest they're being stonewalled to add the Florida home to the collection offerings, which also include a $25,000 Mercedes-Benz SL 500 assigned Joe DiMaggio shirt, and Reggie Jackson photo three, New York Yankees World Series rings worth $30,000 and over 1.4 million in retirement accounts. So those are the items that Rudy Giuliani's already given up. He's like, take one.
New York Yankees Super, uh, uh, uh, world Series rings. Like, yeah, why? You don't, you shouldn't even have those. Those aren't yours. You didn't do anything to win those. You've got a Mercedes worth $25,000. Like, what'd you do to the Mercedes van that is a low, low price for that car? Um, and then 1.4 million in his retirement account. Yikes. Enjoy working as a Walmart greeter for the rest of your life, Rudy. But it's that condo. It's worth millions of dollars. And Rudy Giuliani doesn't wanna part with it. But guess what? You really don't get a say here, Rudy. You're the one who opted to file for bankruptcy after the $148 million defamation verdict against you. You have to do what the bankruptcy court says, and the bankruptcy court, pretty much to a degree, has
To do what the creditors say. Those are the people that you owe money to. You're not getting out of that. They're going to take as much as they can to get as much of the value as they can that you owe them. Are they gonna get the full amounts? Probably not. But can they take every single thing that Rudy Giuliani has ever had for his entire life to at least try to get to that amount? 100% they can. And that is what Giuliani is looking at right now. So whether or not he wants to give up the property is moot, that court is going to force him to sell that condo at maximum value, and Giuliani's gonna be left with nothing, not even a World Series ring. That's kind of sad. But again, you did this 100% to yourself because you wanted to get in good with Donald Trump.
/ farronbalanced 
