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NRA bankruptcy filing blocked by Texas judge, forcing group to face New York AG's lawsuit
The judge found that the filing was aimed at gaining "an unfair litigation advantage" to defend a lawsuit that the group said poses an "existential threat."Dareh GregorianA federal judge in Dallas on Tuesday dismissed the National Rifle Association's bid to seek bankruptcy protection and reorganize in Texas, finding that the petition was filed to gain an "unfair litigation advantage" in a lawsuit brought by the New York attorney general's office.
New York Attorney General Letitia James sued the NRA last year seeking to dissolve the gun rights advocacy group and accusing top executives of "years of illegal self-dealings" that funded a "lavish lifestyle." The NRA has called the suit an "unhinged and political attack."
"The question the Court is faced with is whether the existential threat facing the NRA is the type of threat that the Bankruptcy Code is meant to protect against. The Court believes it is not," U.S. Bankruptcy Judge Harlin Hale wrote in a 38-page decision.
The NRA filed for Chapter 11 bankruptcy protection in January at the direction of its CEO, Wayne LaPierre — unbeknownst to some members of the organization's board of directors and other top officials.
"What concerns the Court most though is the surreptitious manner in which Mr. LaPierre obtained and exercised authority to file bankruptcy for the NRA. Excluding so many people from ...
https://www.nbcnews.com/politics/politi ... w-n1267035