NRA in Danger
NRA's internal scandals imperil its survival
Looks like someone is following the trial very closely.
https://nraindanger.wordpress.com/2021/04/30/recap-of-last-day-of-bankruptcy-testimony/
Recap of last day of bankruptcy testimony
The judge’s question at the end is a VERY bad sign for NRA’s filing. When a judge specifically asks people to address a particular question, it is the strongest possible sign that he thinks this is the key issue in front of him. What he wants debated is, given that the purpose of Chapter 11 (reorganization) bankruptcy is to keep a company from falling into Chapter 7 (liquidation) bankruptcy, does a court have jurisdiction where the sole purpose of the case is to avoid a state’s attempt to dissolve the corporation, via a dissolution that will require a lawsuit and a state court’s determination that the dissolution is in the public interest, and escaping the dissolution is the entire purpose, and not a collateral one, of the bankruptcy?
This is a very precise phrasing of NRA’s situation, in terms of dismissal for bad faith, that is ulterior motive, filing. The judge sees the issue precisely, and if you look at it with that precision, the only answer is: no, the bankruptcy court does not have jurisdiction, and must dismiss the Chapter 11 case.