JohnT beat ya to it
GM filed bankruptcy and I think they are still around.
Anyone else see a problem with them claiming they need to file for bankruptcy, while also claiming they’re currently in the best financial shape they’ve been in years? It definitely sounds like they’re trying to evade prosecution, something that you only really need to do if you know the evidence is against you.
Does it say which chapter?
Best news I heard all day!
Political movements telling lies? I’m shocked, shocked.
Using Bankruptcy for restructuring is quite common in the business world, and if the AG of NY is gonna harass them (they think they are, in any case, and certainly there is a political motive) then why not move to Texas?
Certainly the AG has a case with the accusations for some of the NRA’s senior leadership. But for a NonProfit like the NRA, that really isnt a reason to try and dissolve the whole shebang.
Maybe bankruptcy is the best financial shape they’ve been in for years.
The New York Times says that the plan is to declare bankruptcy in New York State and re-incorporate in Texas, avoiding or postponing the investigation by the NYS attorney general.
It’s the national organization.
Chapter 11 bankruptcy. Wish they would not come to Texas.
I used to be a member of the NRA but their increasing loyalty to the Republican party and their incessant fearmongering turned me away. Over the last 20 years, the most successful efforts for the rights of gun owners (Heller v. District of Columbia) weren’t spearheaded by the NRA anyway.
Are there any rules about trying to declare bankruptcy to avoid an ongoing investigation?
I think the rule is that it doesn’t work. Bankruptcy can help you avoid certain civil lawsuits, depending on circumstances, but I don’t think it can help avoid criminal prosecution.
Beautiful. Mark Hamill himself couldn’t have said it better.
Perhaps every NRA member will bail and join Gun Owners of America, an organization that doesn’t roll over and play dead like the NRA did on several issues.
For those of you that don’t like the NRA, you’re REALLY not going to like GOA.
Thoughts and prayers, I guess.
No, that wont work, but they can stop the AG from dissolving the NRA.
Is the NRA going “bankrupt?”
No. In fact, this move comes at a time when the NRA is in its strongest financial condition in years.
To facilitate its reorganization, the NRA and one of its subsidiaries filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. The NRA is not insolvent.
Wait, Is that legal? I can say “oh I have plenty of money I just need to break this contract see”?
ETA source: https://www.nraforward.org/questionsanswers
I’m guessing all the NRA members who would want to belong to GOA have already joined it, though. It’s not like party affiliation, you know: you can be an NRA member and a GOA member at the same time if you want to.