Debtors in a bankruptcy case must file a plan for reorganization, or a plan for liquidation of assets, typically within a stated period (usually 120 days). Rudy can certainly delay the filing of his plan, but he cannot put it off forever. Bankruptcy courts and bankruptcy judges do not like getting into what often are business disputes, and also do not like slowing the wheels of justice when court judgments are due. In this case, a great portion of the creditors claims are unsecured, so creditors have limited say. Even if Rudy is forced to sell both of his homes, it appears the proceeds (if the properties are held free and clear) will be less than 10% of what he owes.

The end of this case is many months down the road. I predict that eventually Rudy will have to sell nearly everything he has, and his final days will be lived in a very modest lifestyle. New Yorkers will shake their heads when they see Rudy walking the streets, and his relationship with Der Dotard will leave Rudy with only bitter memories...