Judge rejects NRA's bankruptcy bid

[Solomonson]

Is the end near for the NRA?

https://www.reuters.com/world/us/us-bankruptcy-judge-rejects-nra-bid-reorganize-texas-2021-05-11/

 

[hso]

Hale's dismissal is without prejudice, meaning the NRA can file for bankruptcy again, but the judge said management issues could require appointing a trustee to oversee its affairs if it sought Chapter 11 again.

That makes it clear that the option of Chapter 11 is still open, but not in the manner this was attempted.

 

[alsaqr]

WLP said in court that the reason for the bankruptcy was to escape the clutches of the NY attorney general. See lower half of page 22 and all of page 23.

Microsoft Word - National Rifle Association - Order Granting Motion to Dismiss (courtlistener.com)

BTW: The NRA has another problem: The District of Columbia attorney general has sued the NRA Foundation:

NRA-Foundation-Complaint-Redacted.pdf (nrawatch.org)

 

[Solomonson]

That makes it clear that the option of Chapter 11 is still open, but not in the manner this was attempted.

The GOOD thing is that the court would likely install a special trustee to run the NRA while things progressed through the court.

LaPierre and company being gone is a priority at this point.

 

[mcb]

The GOOD thing is that the court would likely install a special trustee to run the NRA while things progressed through the court.

LaPierre and company being gone is a priority at this point.

That is the NRA's last best hope.

 

[Ric]

Tom Selleck, Allen West. Lots of good people.
They would do a great job