Author Topic: NRA Backrutpcy Proceedings (04/05/2021)  (Read 340 times)

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Offline DefiantMassRINO

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NRA Backrutpcy Proceedings (04/05/2021)
« on: April 07, 2021, 03:39:02 pm »
NRA is seeking to dissolve New York incorporation and re-incorporate in Texas.  The New York incorporated entity is using Federal Bankruptcy law to seek relief from liabilities that may be incurred from New York state AG case.

This case could influence where and how non-profit organizations incorporate themselves and use Federal Bankruptcy law to protect themselves from prosecution and persecution by states' attorneys general.  Think "conservative" organizations incoroporated in blue states persecuted by social justice warrior state governments.

Online information (hopefully) without too much media bias hyperbole:

https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-11-bankruptcy-basics

"Chapter 11 - Bankruptcy Basics

This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11. ..."

https://www.documentcloud.org/documents/20519896-nra-bankruptcy-filing

"... Case 21-30085-11 Doc 1 Filed 01/15/21 ... United States Bankruptcy Court for the:NORTHERN DISTRICT OF TEXAS ... Official Form 201Voluntary Petition for Non-Individuals Filing for Bankruptcy ..."

https://today.westlaw.com/Document/I21b76920966a11ebb457b0b0ee063169/View/FullText.html?transitionType=Default&contextData=(sc.Default)&firstPage=true

"NRA defends board, LaPierre as bankruptcy trial kicks off ...
... (Reuters) - A top National Rifle Association officer testified on Monday that he had no doubt that CEO Wayne LaPierre was authorized to place the gun rights organization into bankruptcy, rejecting the New York Attorney General's contention that the NRA board was deceived into giving LaPierre that power...."

https://www.inforuptcy.com/browse-filings/texas-northern-bankruptcy-court/3:21-bk-30085/bankruptcy-case-national-rifle-association-of-america

"Case number: 3:21-bk-30085 - National Rifle Association of America - Texas Northern Bankruptcy Court ... U.S. Bankruptcy Court Northern District of Texas (Dallas) Bankruptcy Petition #: 21-30085-hdh11 ..."

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