Legal AF by MeidasTouch - Rudy SCREWS HIMSELF and Loses EVERYTHING

Episode Date: May 3, 2024

Rudy Giulani just BLEW HIS BANKRUPTCY COURT MONTHLY LIVING EXPENSES budget by 80,000, leaving his CREDITORS like Georgia election workers Shay Moss and Ruby Freeman holding the bag with their UNPAID $148 million defamation judgment against him. Michael Popok breaks down the bankruptcy law and what will happen next in Court with a Giulani who could end up with 100 percent of his assets being sold. Go to http://mackweldon.com/?utm_source=streaming&utm_medium=podcast&utm_campaign=podcastlaunch&utm_content=LEGALAFutm_term=LEGALAF and get 20% off your first order with promo code LEGALAF Visit https://meidastouch.com for more! Join us on Patreon: https://patreon.com/legalaf Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Learn more about your ad choices. Visit megaphone.fm/adchoices

That's the sound of unaged whiskey, transforming into Jack Daniels Tennessee Whiskey in Lynchburg, Tennessee. Around 1860, nearest green taught Jack Daniel how to filter whiskey through charcoal for a smoother taste, one drop at a time. This is one of many sounds in Tennessee with a story to tell. To hear them in person, plan your trip at tnvacation.com. Tennessee sounds perfect. This is Michael Popak, Legal AF. I learned a lot about Rudy Giuliani's bankruptcy and

his attempt to avoid having to pay over $150 million in judgments against him. And I'm going to share it with you right here on this hot take. First of all, he's blowing through the budget that he told, well if we want to call it a budget, a $43,000 a month that he promised the bankruptcy judge and the trustee that he would live on and live by during the course of the bankruptcy. There is a creditors committee in this kind of chapter 11 bankruptcy where he's trying to work out a deal with his bankrupt creditors under the auspices of the bankruptcy court

and walk away having been absolved of all of his debts on cents on the dollars, penny on the dollars for the debt that he has. He said he's gonna live within his means. And he said his means were $43,000 a month. He disclosed that he was gonna take that money from his pension and from his Social Security,

which gives him about $550,000 a year. Of course, the Creditors Committee, and there's three members of the Creditors Committee, one of them is Shay Moss, who along with her mother is the judgment holder of $148 million defamation damages judgment against Rudy Giuliani that was obtained in a Georgia Federal Court because Rudy Giuliani defamed Shay Moss and Ruby Freeman, two election workers

who did nothing but their civic duty and counting votes in Georgia in Fulton County, but Donald Trump and Rudy Giuliani made it their business and made it their life's work to try to defame them and accuse them of voter fraud, all untrue, resulting in a jury verdict. So the three-member creditors committee, which is gonna control Rudy Giuliani's life

and represents all creditors are judgment creditor, Shea Moss, former Fulton County election worker, Noelle Dumpfey. That's an interesting member of the creditors committee. She's currently suing Rudy Giuliani for 3.1 million, claiming that while she was his administrative assistant, he tried to make her into a sex slave. Those are her words from her complaint

that he abused her sexually, constantly made reference to her physical appearance, and in addition to that, frequently called her for phone sex. And she sued for breach of various state and federal law, and she doesn't yet have a judgment against them but because she has a claim that's enough if you have a claim in bankruptcy even if you're not the judgment creditor like Shea Moss you can be on the creditors

committee as well and the third member of the creditors committee is the general counsel for Dominion Dominion voting systems representing Dominion voting systems who has defamation claims, substantial ones, into the hundreds of millions of dollars against Rudy Giuliani and others, because he propagated the lie on places like Fox News, Newsmax and other places that Dominion Voting Systems was involved with a Venezuelan conspiracy involving smartmatic software to flip votes that were cast for Trump and make them and convert them into Biden votes.

We know that's all a lie. We know that Fox News has already retracted all of that and paid Dominion Voting Systems $758 million, but they still have a case against Sidney Powell and Rudy Giuliani and others. So they're a judgment creditor. Well they're not a judgment creditor. They're a creditor because they have a claim based on future litigation, future judgment and so they're on the three-person creditors committee. So you've got the trustee who's appointed under the bankruptcy

code to represent the estate of the Rudy Giuliani, which purportedly has, I don't know, about $11 million in assets, mainly in real property. He's got an Upper East Side apartment in New York worth, meh, $6.5 million that he's tried to sell unsuccessfully, probably asking too much money, and has taken it off the market to put it back on at some other time.

He has a Palm Beach condo near Mar-a-Lago in Palm Beach, Florida, which is worth three and a half million, but he wants to live in it. But those are assets subject to sale. The bankruptcy judge in the equation, he makes rulings and orders for the benefit of the estate and the creditors of the estate, not the debtor. And then representing the creditors, in this case a mix of judgment creditors and just plain old creditors who have

a claim in bankruptcy against Donald Trump, that's Shae Moss, the Dominion Voting Systems General Council, and Noel Dumpy, they represent the creditors as a whole as part of a committee, and they make decisions based on them. Then the goal eventually, if Rudy Giuliani ever gets around to supplying proper financial statements and financial information, which he has not, much to the chagrin of the creditors committee and the trustee, he's never properly reported anything. He's missed two reporting deadlines. His January financials are incomplete, and they're the ones even incomplete,

show that he's blowing through his budget by a factor of three, that he's spending $120,000 a month, not $43,000 a month. He's picking up the tab for other colleagues' credit cards, while the creditors, who hold $160 million or $153 million in judgments, sit there not getting a dime. Sometimes I wish we could have things in life both ways, like a great glass of red wine,

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with promo code LegalAF. That's M-A-C-K-W-E-L-D-O-N.com promo code LegalAF. He's starting to piss off the bankruptcy judge. He's starting to piss off the trustee. He's pissed off the creditors committee and what's gonna end up happening, and here's my prediction, after we're done with all this monkey business is that the bankruptcy judge is gonna have him under oath Rudy Giuliani and testify about his assets, supply all a 100% complete picture of his finances, and then they're going to start divvying it up.

They're going to say, this is the amount that you can keep, and this has to be sold, and this amount goes to the creditors. Rudy will try to propose a plan, a plan of reorganization, but the creditors will reject it. If he doesn't negotiate right now with the creditors and the creditors committee, who's representing the creditors, judgment creditors and others. He'll never get a deal done because if one's imposed on him by the bankruptcy judge, it'll be draconian.

He'll lose everything. So he better hope he can negotiate some plan. Now look, he's only got at best, at best 10 or $11 million in assets. He's got $15 million dollars worth of debts. So they're not, even if they sold everything out from under him, they're getting like pennies on the dollar. So the question is, who, and in the order of operation, the priority of bankruptcy code, judgment creditors

go first. Then comes unsecured creditors, ones that actually lent money and in return got some sort of commitment, some lean back on Rudy Giuliani's property. And then last are people that only have claims that haven't yet been reduced to a judgment and don't have some sort of financing statement or technical lean against Rudy Giuliani's assets. And that's sort of where Noel Dumpy Dominion Voting Systems falls. So that's the order. That's the waterfall when the bankruptcy state distributes. But you can see there's very little is going to go to them. And the other problem is that he's old.

I mean, he's like, you know, 75 or whatever he is. Doesn't seem to be making any money at all from podcasting. He raises all of this money from his legal defense funds, but it all goes to the lawyers, many of which have quit on him, don't want to represent him any longer. He's still being sued in various jurisdictions. He spends a couple of million dollars a year in attorney's fees, which looks like it's coming out of some sort of fund. Of course, the creditors want to find out about the fund, who's donating to the fund,

and why isn't it being used here to pay the creditors want to find out about the fund, who's donating to the fund, and why isn't it being used here to pay the creditors? Some of the fund people have some illegitimacy problems themselves, like people that are caught up in fraud that have donated to Rudy Giuliani's legal defense fund. How ironic. So, we've got to continue to follow all of this. Why is he spending $120,000 a month? Where is it going? Why is he being allowed to miss value, undervalue, this sounds familiar, like his client, Donald

Trump, certain of his assets. He says he has $30,000 worth of jewelry. He's got three World Series rings from the New York Yankees, big Yankee fan, mayor of New York. They're each worth $15,000, $20,000 a piece. Why aren't they being properly valued and sold? When is money, Mr. Bankruptcy Judge, gonna start going to people that were injured by Rudy Giuliani and are holding judgments like Seamus and Ruby Freeman in Georgia for the election interference defamation case? What is going on here? I'll be frank. I've practiced law that brings me into the ambit of bankruptcy proceedings before. I've never seen such a lax handling of bankruptcy proceedings than

what's going on right now with Rudy Giuliani. If I were the judge wearing a black robe instead of a blue polo shirt, I'd already be putting him under oath at the courtroom with the trustee there in a hearing to establish all of his assets once and for all, all of the financial statements, all of the bank records, all of the real estate records, and then I would give him a deadline to set up a plan of reorganization that's agreed upon by the creditors, and failing that, I would impose one. This would be done already. This would be done already. But you watch the wheels of justice move slowly. They really do. And so we'll continue to follow it. All the bad performance and poor performance and misconduct by Rudy Giuliani, even when he's in bankruptcy. He's already lost his bar license in two different

locations. He's already been indicted in two separate places, at an unindicted co-conspirator and a third. He's indicted in Georgia, he's indicted in Arizona, he's likely to be indicted in Nevada and Michigan, and he's playing games in the bankruptcy court, which means he's playing games with you and me. I'll continue to follow everything about Rudy Giuliani. I do it one place, exclusively right here, even when I'm traveling for the Midas Touch Network

and on Legal AF, follow us on Wednesdays and Saturdays at 8 p.m. Eastern Time where we do a show we call Legal AF. Yes, it means exactly what you think, or join us, we'll tell you why. 8 p.m. Eastern Time YouTube for Midas Touch. You like what I'm doing, there's a number of ways to follow me.

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And then I'm on social media at MSPopok. So until my next hot take, until my next Legal AF, this is Michael Popok reporting. Heary, heary, Legal AF Law Breakdown is now in session. Go beyond the headlines and get a deep dive into the important legal concepts you need to know and we discuss every day on Legal AF. Exclusive content you won't find anywhere else, all for the price of a couple of cups of coffee. Join us at

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