New York, New York - After losing a recent defamation lawsuit and being ordered to pay millions in damages, ex-New York mayor Rudy Giuliani was forced to file for bankruptcy.

According to ABC News, Giuliani filed for Chapter 11 bankruptcy with a New York court on Thursday, where he claimed his debts far exceeded his worth or assets.

Last week, Giuliani was ordered to pay $148 million in damages for defaming two Georgia poll workers with his false claims they engaged in election fraud.

His filing claims he only has a net worth of somewhere between $1 million and $10 million, but he owes $151 million to creditors, owes more than $989,000 in outstanding taxes, owes $3.7 million to several legal firms, and may soon gain additional liabilities from his other legal cases.

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The filing will allow Giuliani to stall having to pay the two workers he defamed and give him time to appeal the judgment.

His money and assets will also be assessed by a bankruptcy court.

During the trial, the judge overseeing the case noted that the two workers had "good cause" to be concerned that Giuliani would try to evade having to pay them.