Former New York City Mayor Rudy Giuliani has filed for bankruptcy in the wake of a $148 million civil court ruling and a mountain of unpaid legal bills.

Giuliani, who was once hailed as “America’s Mayor,” listed debts of up to $500 million with assets of only $10 million in the filing, Bloomberg News reported on Thursday.

Former New York City Mayor Rudy Giuliani has filed for bankruptcy in the wake of a $148 million civil court ruling and a mountain of unpaid legal bills.{ai:summary}<p>Former NYC Mayor Rudy Giuliani files for bankruptcy after $148 million civil court ruling and massive legal debts. #economy</p>

Rudy Giuliani files for bankruptcy in NY

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