NRA rolls dice on bankruptcy reorg and a move to Texas -- NY AG says not so fast

lizkat

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Well it may prevent them from a total collapse but in the meantime they'll be giving up a lot of information



The NRA filed for Chapter 11 bankruptcy in federal court in Dallas and said it planned to incorporate in Texas, where records show it formed a limited liability corporation, Sea Girt LLC, in November 2020. Sea Girt LLC made a separate bankruptcy filing Friday, listing fewer than $100,000 in liabilities.

In its filing, the NRA said its longtime leader, Executive Vice President Wayne LaPierre, made the decision to file for bankruptcy protection in consultation with a “special litigation committee” comprised of three NRA officials that was formed in September to oversee its legal strategies
“The move will enable long-term, sustainable growth and ensure the NRA’s continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York,” the NRA said in a statement.
Shortly after the announcement, New York Attorney General Letitia James said she would not allow the NRA to “evade accountability” or oversight. Her office’s lawsuit last year highlighted misspending and self-dealing claims that have roiled the NRA and LaPierre in recent years— from hair and makeup for his wife to a $17 million post-employment contract for himself.

“The NRA’s claimed financial status has finally met its moral status: bankrupt,” James said.
 

iLunar

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Are they hoping that TX AGs are corrupt enough for them to try this again? Or is this just a PR stunt so they can keep "membership donations" coming in?
 
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lizkat

lizkat

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It's not a PR stunt although for aficionados it certainly doesn't hurt that Texas with respect to the Second Amendment has different laws on exercise of the right to bear arms. Primarily though it's a decision to forsake the strictures of its original 1871 charter in NY as a charitable organization -- it is currently a 501(c)(4) entity-- which status has given the NY Attorney General the ability to bring regulatory action and sanctions.


Here's a piece puts more of Wayne LaPierre's attitude on it.

 
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SuperMatt

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They have been morally bankrupt since they fought against gun regulations in the wake of the killing of innocent little kids in Newtown. To me, the response from the right to that event showed who they truly are. And the way the Senate responded was the best argument of all time for ending the filibuster permanently. I recommend this episode of Fresh Air regarding the history of the filibuster for anybody that thinks we should keep it, or isn’t sure.


TLDR: it has nothing to do with the constitution and everything to do with slave holders trying to protect their interests... and in the last 50 years, it has become something that doesn’t even require the person “filibustering” to even explain themselves for 1 minute on the floor.
 
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