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Rudy Giuliani, a longtime associate of former President Donald Trump, has filed for bankruptcy just days after he was ordered to pay $148m (£116m) in a defamation case.
He was ordered to pay the sum after a judge found he defamed two Georgia election workers over false claims they tampered with votes in 2020.
Mr Giuliani filed for bankruptcy on Thursday and listed debts as high as $500m and assets of $10m.
He has not commented on the filing.
The 79-year-old said earlier this year that he was having financial difficulties because of his increasing legal fees and expenses.
Last week, an eight-person jury ordered Mr Giuliani to pay $20m to Georgia poll workers Ruby Freeman and her daughter Wandrea "Shaye" Moss.
They were also awarded more than $16m each for emotional distress. Another payment of $75m in punitive damages was ordered to be split between them.
The pair had originally sought between $15m and $43m in damages from Mr Giuliani, Mr Trump's former personal lawyer.
Addressing reporters outside the court after he was ordered to pay the sum, Mr Giuliani said: "I don't regret a damn thing."
He still faces an indictment in Georgia on racketeering and conspiracy charges as well as a $10m lawsuit by a former business associate over sexual harassment claims.
This is a developing story. More updates to follow.