Rudy Giuliani had a bankruptcy hearing that went completely off the rails this week, with the judge having to threaten to cut off his line (it was a virtual hearing) if he couldn't get himself together. Giuliani now says he wants to dismiss the entire bankruptcy case that he started, something that he may not even have a choice over given the fact that the plaintiffs have repeatedly argued that he is hiding assets and lying to the court. Farron Cousins explains what would happen if Giuliani's case is thrown out.

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*This transcript was auto-generated. Please excuse any typos.

We will find out later today if the judge, it is, uh, US bankruptcy, judge Sean Lane, if Judge Lane is going to allow Rudy Giuliani to continue with the bankruptcy proceedings, or if he's going to just straight up dismiss the case, which of course would be the worst thing in the world for Rudy Giuliani. Now, lane following a hearing on Wednesday that, uh, people who were a part of it said it devolved into chaos thanks to Rudy Giuliani himself. Uh, judge Lane suggested during that he said, I'm leaning toward dismissal frankly, because I am concerned that the past is prologue. The difficulties that we've encountered in this case in terms of transparency will continue to dog the case. So what is he talking about? What hasn't been transparent? Well, according to the plaintiffs in the case, Rudy Giuliani has not been transparent about his finances, about his current sources of income.

They believe that he is hiding money from them, which of course is why they've recently subpoenaed Mike Lindell, the MyPillow guy, because they believe that his, my coffee is tied in with Rudy's coffee. And Rudy could be hiding assets over with the pillow man. Um, you know, how much is he getting? 'cause his show airs on Frank's speech, which Mike Lindell owns. How much is he getting from his podcast? How much is he getting from all of this? They don't know, because according to them, Giuliani's not telling them he is withholding tons of information. And the judge at this point is so off that he's likely to dismiss Rudy Giuliani's bankruptcy hearings. Now, what's funny about this to me is that, you know, a bankruptcy case is not supposed to be like a civil trial. It's not supposed to be a criminal trial. No sides typically withhold information, right?

It's not a thing where you need investigators. Lawyers shouldn't be shouting at each other. It's supposed to be, okay, everybody sit around. Let's figure out what you got in assets. Okay? Let's get a trustee appointed to oversee this to make sure you're not screwed and the people you owe money to are also not screwed. We're gonna do this to make sure everybody, uh, has their best interests met, and so the person doesn't get screwed over. That's not happening here. I mean, the the way this has been going on because of Giuliani's alleged hiding of assets, it, it is more like a very tumultuous criminal trial at this point, and the judge is sick of it. But most importantly, plaintiffs Ruby Freeman and she Moss are sick of it, Rudy Giuliani owes them, uh, what was it, 140, 148 million from the defamation verdict that they secured against him. And

That of course, is Rudy Giuliani's biggest financial liability. But if he were to go through the bankruptcy process, if he continues on this court, uh, course, and it doesn't get dismissed, then Freeman and Moss are gonna get significantly less than what Giuliani owes them because their judgment came last. Like in the long line of all the things Rudy Giuliani owes money for, the biggest one came at the end. So if a trustee were appointed, you're gonna basically see that these earlier debts, which most of them are actually, he didn't pay his lawyers and he owes them millions, those obligations would be met first because they are the oldest, which means by the time you get down to it, Freeman and Moss probably aren't gonna get anything. And that's why they are pushing to have this case dismissed. And now Giuliani says that he wants the case dismissed, which honestly is just mind blowing.

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