NRA in Danger

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NRA in Danger

Postby jdege on Mon May 03, 2021 8:55 am

https://nraindanger.wordpress.com/
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.
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Re: NRA in Danger

Postby Holland&Holland on Mon May 03, 2021 2:01 pm

Yikes. What a mess
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Re: NRA in Danger

Postby Lumpy on Mon May 03, 2021 2:04 pm

I suppose it goes back to the state of New York's grounds for suing for dissolution in the first place. Isn't bankruptcy of either sort primarily a financial proceeding? Can the state of NY call for dissolution solely on the grounds of malfeasance on the part the NRA's directors, regardless of whether the organization is financially solvent? If it was a matter of criminal prosecution the various corrupt organization laws, RICO etc. might be relevant but afaik nothing like that is the case here.
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Re: NRA in Danger

Postby minnesotatv on Tue May 11, 2021 3:38 pm

Judge dismisses NRA bankruptcy case in blow to gun group

A federal judge on Tuesday dismissed the National Rifle Association's bankruptcy case,
leaving the powerful gun-rights group to face a New York state lawsuit that accuses it
of financial abuses and aims to put it out of business.

https://www.kstp.com/national/judge-dis ... ?cat=12678

https://www.foxnews.com/politics/texas- ... y-petition
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NRA in Danger

Postby dismal on Tue May 11, 2021 4:43 pm

Wonder if NY will be able dissolve the entire NRA, or would the subsidiaries (PVF, ILA, etc) be separate enough to be spared.
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Re: NRA in Danger

Postby rtk on Tue May 11, 2021 7:57 pm

The NRA is being canceled like many other things by the “cancel culture”.
The sky is falling, the sky is falling....(Chicken Little)
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Re: NRA in Danger

Postby Holland&Holland on Tue May 11, 2021 10:08 pm

rtk wrote:The NRA is being canceled like many other things by the “cancel culture”.

Not really the same thing. In this case all their malfeasance lead to all our money disappearing and they can’t pay their bills.
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Re: NRA in Danger

Postby Bearcatrp on Wed May 12, 2021 5:36 am

Holland&Holland wrote:
rtk wrote:The NRA is being canceled like many other things by the “cancel culture”.

Not really the same thing. In this case all their malfeasance lead to all our money disappearing and they can’t pay their bills.

Exactly! :exactly:
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Re: NRA in Danger

Postby crbutler on Wed May 12, 2021 3:21 pm

My understanding is the reason that it was refused is that you cannot use BK to avoid legal action.

LaPierre et al have been saying that the association is doing fine financially, but they need to declare BK to get out from the suits.

I don’t doubt that the BK petition would go through if they had the suits found against them and they need to reorganize. However, then WLP doesn’t have all the $$$ to play with.

The BOD should be sued for malfeasance and WLP charged personally, if half of what is said is true.
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Re: NRA in Danger

Postby Holland&Holland on Wed May 12, 2021 6:28 pm

crbutler wrote:My understanding is the reason that it was refused is that you cannot use BK to avoid legal action.

LaPierre et al have been saying that the association is doing fine financially, but they need to declare BK to get out from the suits.

I don’t doubt that the BK petition would go through if they had the suits found against them and they need to reorganize. However, then WLP doesn’t have all the $$$ to play with.

The BOD should be sued for malfeasance and WLP charged personally, if half of what is said is true.

Saying it and it being true are 2 entirely different things.
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Re: NRA in Danger

Postby crbutler on Fri May 14, 2021 2:36 pm

Yeah, but if they are saying it, and publicizing it, it produces a real problem with proving insolvency to the judge... are you lying here or there?

Fundamentally that is the issue with NRA leadership... can we trust and believe them?
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Re: NRA in Danger

Postby Holland&Holland on Fri May 14, 2021 11:15 pm

crbutler wrote:Yeah, but if they are saying it, and publicizing it, it produces a real problem with proving insolvency to the judge... are you lying here or there?

Fundamentally that is the issue with NRA leadership... can we trust and believe them?

Nope.
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Re: NRA in Danger

Postby Bearcatrp on Sun May 16, 2021 6:18 pm

They got what they deserve. Let them fold! Wayne has become to powerful and his expenses has shown no control on spending. I gave up on the NRA.
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