Leroy N. Soetoro
2021-01-17 23:15:25 UTC
https://www.reuters.com/article/usa-guns/update-2-national-rifle-
association-says-it-has-filed-for-bankruptcy-as-part-of-restructuring-
idUSL1N2JQ2WD
(Reuters) - The National Rifle Association on Friday filed for bankruptcy,
a sudden development that could help the gun rights group escape a lawsuit
by New Yorks attorney general seeking its dissolution.
The NRA filed for Chapter 11 protection in federal bankruptcy court in
Dallas, and said it plans to reincorporate in Texas to escape a corrupt
political and regulatory environment in New York, where it is now
incorporated.
Texas values the contributions of the NRA, celebrates our law-abiding
members, and joins us as a partner in upholding constitutional freedom,
Chief Executive Wayne LaPierre said in a letter to members. We seek
protection from New York officials who illegally abused and weaponized the
powers they wield against the NRA and its members.
The NRA was sued in August by New York Attorney General Letitia James, who
accused LaPierre and other senior leaders of self-dealing and
mismanagement, and said the groups activities violated state laws
governing nonprofits.
James said NRA officials diverted millions of dollars to fund luxury
lifestyles, including vacations and private jets, and to buy the silence
and loyalty of former employees, costing the group $64 million over three
years.
The NRAs claimed financial status has finally met its moral status:
bankrupt, James said in a statement on Friday. We will not allow the NRA
to use this or any other tactic to evade accountability and my offices
oversight.
In its own statement, the NRA pledged no immediate changes to its
operations or workforce and said it was not insolvent, with LaPierre
adding that it was as financially strong as we have been in years.
The group said it would continue to defend its members constitutional
rights under the Second Amendment, which guarantees the right to keep and
bear arms.
Critics say the NRA is an enabler of gun violence.
In her lawsuit, James said the NRAs incorporation as a nonprofit in New
York gave her authority to seek its dissolution. The NRA filed a
countersuit in federal court in Albany, New York, accusing her of
violating its free speech rights because she disliked its politics.
The NRA accused James, a Democrat, of seeking a corporate death sentence
in a partisan push to fulfill a career goal.
Sixteen Republican attorneys general filed a brief supporting the NRAs
case.
Fridays move will likely put the New York lawsuit on hold, and a
reincorporation in Texas could strip James of her power to dissolve the
group.
Reporting by Jan Wolfe and Jonathan Stempel; Editing by Rosalba OBrien
and Jonathan Oatis
--
"LOCKDOWN", left-wing COVID fearmongering. 95% of COVID infections
recover with no after effects.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Donald J. Trump, cheated out of a second term by fraudulent "mail-in"
ballots. Report voter fraud: ***@mail.house.gov
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.
association-says-it-has-filed-for-bankruptcy-as-part-of-restructuring-
idUSL1N2JQ2WD
(Reuters) - The National Rifle Association on Friday filed for bankruptcy,
a sudden development that could help the gun rights group escape a lawsuit
by New Yorks attorney general seeking its dissolution.
The NRA filed for Chapter 11 protection in federal bankruptcy court in
Dallas, and said it plans to reincorporate in Texas to escape a corrupt
political and regulatory environment in New York, where it is now
incorporated.
Texas values the contributions of the NRA, celebrates our law-abiding
members, and joins us as a partner in upholding constitutional freedom,
Chief Executive Wayne LaPierre said in a letter to members. We seek
protection from New York officials who illegally abused and weaponized the
powers they wield against the NRA and its members.
The NRA was sued in August by New York Attorney General Letitia James, who
accused LaPierre and other senior leaders of self-dealing and
mismanagement, and said the groups activities violated state laws
governing nonprofits.
James said NRA officials diverted millions of dollars to fund luxury
lifestyles, including vacations and private jets, and to buy the silence
and loyalty of former employees, costing the group $64 million over three
years.
The NRAs claimed financial status has finally met its moral status:
bankrupt, James said in a statement on Friday. We will not allow the NRA
to use this or any other tactic to evade accountability and my offices
oversight.
In its own statement, the NRA pledged no immediate changes to its
operations or workforce and said it was not insolvent, with LaPierre
adding that it was as financially strong as we have been in years.
The group said it would continue to defend its members constitutional
rights under the Second Amendment, which guarantees the right to keep and
bear arms.
Critics say the NRA is an enabler of gun violence.
In her lawsuit, James said the NRAs incorporation as a nonprofit in New
York gave her authority to seek its dissolution. The NRA filed a
countersuit in federal court in Albany, New York, accusing her of
violating its free speech rights because she disliked its politics.
The NRA accused James, a Democrat, of seeking a corporate death sentence
in a partisan push to fulfill a career goal.
Sixteen Republican attorneys general filed a brief supporting the NRAs
case.
Fridays move will likely put the New York lawsuit on hold, and a
reincorporation in Texas could strip James of her power to dissolve the
group.
Reporting by Jan Wolfe and Jonathan Stempel; Editing by Rosalba OBrien
and Jonathan Oatis
--
"LOCKDOWN", left-wing COVID fearmongering. 95% of COVID infections
recover with no after effects.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Donald J. Trump, cheated out of a second term by fraudulent "mail-in"
ballots. Report voter fraud: ***@mail.house.gov
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.