You're listening to KFI AM 640, the Bill Handles Show on demand on the I Heart Radio app.

Well, our good friend Rudy Giuliani, he went into bankruptcy and he had all kinds of problems

when he filed for bankruptcy. And there was talk of the bankruptcy not going forward.

The bankruptcy judge is saying, no thank you.

I am not going to discharge you from your debts.

What a lot of people don't know about, you file for bankruptcy and you list your assets and you list your debts and list the amount of money that you earn and the

bankruptcy court has to look at all the documents and determine, yep, we're going to

go ahead and liquidate, which means you're out of it completely and all the creditors just walk away

and there's nothing they can do.

Or usually it's a reorganization, which means we're going to take all of your debts and put them in a pile and figure out how much you owe per creditor over what amount of time and what interest.

For example, let's say you have a real estate lease.

Well, still stick you to the lease, but reduce the amount, maybe increase the time to pay for it or pay it, reduce the interest rate, basically rewrite the lease.

That happens during a reorganization.

Also, the judge can say that the creditors get 30 cents on the dollar,

and that's it, and the creditors suck it up. Now, obviously, you have to be very honest about this.

It's all under the penalty of perjury, and you have to cooperate. Well, here comes Rudy Giuliani,

who has not cooperated from day one.

He has obfuscated.

This is the judge saying this, by the way, in his decision to say, no, no, no, I'm not going to let you go bankrupt.

Nope, you've obfuscated.

You have delayed in giving the court documents.

You have eliminated documents that were asked for, delayed everything, and based on your behavior, no bankruptcy, thank you very much.

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