Title: Creditors Seek Sale of Rudy Giuliani's $3.5 Million Florida Condo to Settle Debts

In a recent development, the Official Committee of Unsecured Creditors has filed a motion in bankruptcy court to compel former New York City mayor Rudy Giuliani to sell his $3.5 million Florida condo. The move aims to help pay off a portion of Giuliani's outstanding debts following a defamation case ruling against him last year.

The motion, submitted on Friday, argues that the Palm Beach condo is a non-exempt asset, indicating that Giuliani cannot retain ownership and has "no credible argument" to continue residing there. The creditors are pushing for the sale as part of their efforts to recoup some of the funds owed to them.

Furthermore, the creditors are also requesting the court to require Giuliani to secure homeowners insurance for both his Florida condo and his New York City apartment. They argue that his failure to do so poses a risk to his estate and compromises the ability to protect the assets in question.

Giuliani's bankruptcy filing, which occurred in December, revealed estimated liabilities ranging from $100 million to $500 million, with reported assets between $1 million and $10 million. In addition, Giuliani is facing over $130,000 in outstanding attorney's fees from the defamation case.

The filing highlighted Giuliani's acknowledgment of limited means to repay his debts, as he reportedly told his counsel that "there's no pot of gold at the end of the rainbow." As of Saturday, Giuliani has yet to respond to the motion.

The push for Giuliani to sell his Florida condo can be seen as a significant step towards resolving his financial obligations. The court will now have to examine the motion and make a decision based on the creditors' arguments and Giuliani's potential counterclaims.