NRA Files for Bankruptcy

[Sunni Man]

Never mind; as an attorney who worked years in bankruptcy practice, I assure you that insolvency is a requirement to qualify for chapter 11 filing in federal bankruptcy court.

Incorrect fake attorney ...
A voluntary Chapter 11 bankruptcy doesn't require insolvency provided it's filed for the purpose of reorganization.

Chapter 11 Bankruptcy Reorganization FAQs - Ayres, Shelton, Williams, Benson & Paine, LLC

1. What is Chapter 11? Chapter 11 is the chapter of the Bankruptcy Code that permits a person or business to reorganize while obtaining protection from its creditors. Chapter 11 of the Bankruptcy Code is entitled “Reorganization”. The Bankruptcy Code is the name given to that portion of the...

arklatexlaw.com

 

[2aguy]

I guess their hands are cold and dead now...

National Rifle Association says it has filed bankruptcy petitions in U.S. court

WASHINGTON (Reuters) - The National Rifle Association on Friday said in a statement that it has filed bankruptcy petitions in U.S. court as part of a restructuring plan.

The gun rights advocacy group said it would restructure as a Texas nonprofit to exit what it said was a “a corrupt political and regulatory environment in New York,” where it is currently registered.

National Rifle Association says it has filed bankruptcy petitions in U.S. court | Reuters

They are getting protected from persecution....and moving to Texas.....you fuck wit.......they should have done that a long time ago.

 

[Concerned American]

Many companies and corporations file bankruptcy when they are restructuring their business. It's a legal tactic used all the time.
Not really a big deal. ...

They filed Chapter 11 in NY (to avoid Cuomo's lawsuits/penalties. They are moving to Texas and it will be business as usual in a much friendlier climate. HaHaHa, New York can kiss A LOT of tax dollars goodbye. The shortsightedness of these morons is rich.

 

[Concerned American]

Many companies and corporations file bankruptcy when they are restructuring their business. It's a legal tactic used all the time.
Not really a big deal. ...

Of course not. It just allows you to stiff those you owe money to and promised to pay, a favored Trump tactic.

But it's OK in your mind to unilaterally cancel student debt. Those young impressionable democrats must be protected from the LEGAL FINANCIAL OBLIGATIONS that they entered into freely and openly. LMAO

 

[schmidlap]

Many companies and corporations file bankruptcy when they are restructuring their business. It's a legal tactic used all the time.
Not really a big deal. ...

What is a big deal is financial mismanagement, "Fancy Pants" Squinty LaP and his coconspirators fleecing the suckers, the wasteful, unchecked spending that led the organization to go from a $27.8 million surplus in 2015 to a $36.3 million net deficit in 2018.

LaPierre blew $275,000 on suits, $243,000 on 'luxury travel'
... In 2020, Joshua Powell, former chief of staff to LaPierre, published a book accusing the group of raising millions
by cynically stoking fears of looming gun restrictions, then squandering that money on contracts,
consultants and what he called LaPierre's "billionaire lifestyle" of private planes and designer clothes.

According to internal documents leaked to the Wall Street Journal, LaPierre spent $274,695.03 on Zegna clothing
from 2004 to 2017. He even ventured into the homebase of his enemies—Hollywood!—to buy his suits at the brand’s
Beverly Hills location. On two particularly notable shopping sprees, he spent over $39,000.
​

 

[Sunni Man]

What is a big deal is financial mismanagement, "Fancy Pants" Squinty LaP and his coconspirators fleecing the suckers, the wasteful, unchecked spending that led the organization to go from a $27.8 million surplus in 2015 to a $36.3 million net deficit in 2018.

LaPierre blew $275,000 on suits, $243,000 on 'luxury travel'
... In 2020, Joshua Powell, former chief of staff to LaPierre, published a book accusing the group of raising millions
by cynically stoking fears of looming gun restrictions, then squandering that money on contracts,
consultants and what he called LaPierre's "billionaire lifestyle" of private planes and designer clothes.
According to internal documents leaked to the Wall Street Journal, LaPierre spent $274,695.03 on Zegna clothing
from 2004 to 2017. He even ventured into the homebase of his enemies—Hollywood!—to buy his suits at the brand’s
Beverly Hills location. On two particularly notable shopping sprees, he spent over $39,000.​

I don't care.
Why do you?? ...

 

[Polishprince]

Many companies and corporations file bankruptcy when they are restructuring their business. It's a legal tactic used all the time.
Not really a big deal. ...

What is a big deal is financial mismanagement, "Fancy Pants" Squinty LaP and his coconspirators fleecing the suckers, the wasteful, unchecked spending that led the organization to go from a $27.8 million surplus in 2015 to a $36.3 million net deficit in 2018.

LaPierre blew $275,000 on suits, $243,000 on 'luxury travel'
... In 2020, Joshua Powell, former chief of staff to LaPierre, published a book accusing the group of raising millions
by cynically stoking fears of looming gun restrictions, then squandering that money on contracts,
consultants and what he called LaPierre's "billionaire lifestyle" of private planes and designer clothes.

View attachment 443490

According to internal documents leaked to the Wall Street Journal, LaPierre spent $274,695.03 on Zegna clothing
from 2004 to 2017. He even ventured into the homebase of his enemies—Hollywood!—to buy his suits at the brand’s
Beverly Hills location. On two particularly notable shopping sprees, he spent over $39,000.
​

The NRA was only looked at by the NY Attorney General because she disagrees with their political stand.

Does New York State even know where the people at other New York non-profits buy their clothes? How about the Clinton Foundation- example given? Where does Hillary buy her pants suits?

 

[Synthaholic]

For crooked entities bankruptcy is almost a badge of honor. For the average Joe or Jane its a death sentence.

You obviously don't know the difference between Chapter 7 personal liquidation bankruptcy and Chapter 11 business reorganization bankruptcy, which is rarely used by individuals. ...

If they weren’t shitty businessmen they wouldn’t need either.

 

[Concerned American]

For crooked entities bankruptcy is almost a badge of honor. For the average Joe or Jane its a death sentence.

You obviously don't know the difference between Chapter 7 personal liquidation bankruptcy and Chapter 11 business reorganization bankruptcy, which is rarely used by individuals. ...

If they weren’t shitty businessmen they wouldn’t need either.

Tell that to independent and franchise restaurant owners locked down in democrat-controlled states.

 

[Tipsycatlover]

It's a symptom of the general dissolution of the country.

 

[candycorn]

We have 5 gun stores in my town all have waiting lists to get in...

You must live in a really fucked up town. I can get into any of the gun stores in my area without a waiting list.

I've never heard of having to have an appointment to buy a firearm..

So much sickness. First you want a gun so badly, you're willing to make an appointment to do so. Secondly, there are so many people who want guns...you have to make an appointment.

 

[schmidlap]

..."Fancy Pants" Squinty LaP and his coconspirators fleecing the suckers, the wasteful, unchecked spending that led the organization to go from a $27.8 million surplus in 2015 to a $36.3 million net deficit in 2018.

I don't care.
Why do you?? ...

I have an affinity for the unvarnished truth, a disapprobation of criminal activity, and a willingness to help those who have difficulty honestly confronting either.

 

[schmidlap]

The NRA was only looked at by the NY Attorney General because she disagrees with their political stand.

The only reason some are defending the criminal enterprise is because of their political stand.

A former high-ranking official within the NRA, Joshua Powell, accused its leaders of decades worth of mismanagement and fraud that left the organization in a state of financial and moral disarray.

Powell said that the lawsuit filed by the New York Attorney General for an array of "illegal conduct" merely scratches the surface of a much deeper culture of corruption.

18 members of the NRA’s board who are not paid as directors collected money from the group during the past three years, according to tax filings, state charitable reports and NRA correspondence.

CEO Wayne LaPierre racked up hundreds of thousands of dollars in charges at a Beverly Hills clothing boutique and on foreign travel, invoices show. Oliver North, forced out as president after trying to oust LaPierre, was set to collect millions of dollars in a deal with the NRA’s now-estranged public relations agency, Ackerman McQueen, according to LaPierre. And the NRA’s outside attorney reaped “extraordinary” legal fees that totaled millions of dollars in the past year, according to North.

“In 25 years of working in this field, I have never seen a pattern like this,” said Douglas Varley, a Washington attorney at Caplin & Drysdale who specializes in tax-exempt organizations and reviewed the NRA’s federal and state filings from 2016 through 2018 for The Washington Post. “The volume of transactions with insiders and affiliates of insiders is really astonishing.”

The NRA is under investigation by multiple government entities, including the attorneys general of New York and the District of Columbia, and is embroiled in numerous lawsuits related to its billing practices and fallout from the financial misconduct scandals.

 

[Polishprince]

The NRA was only looked at by the NY Attorney General because she disagrees with their political stand.

The only reason some are defending the criminal enterprise is because of their political stand.

A former high-ranking official within the NRA, Joshua Powell, accused its leaders of decades worth of mismanagement and fraud that left the organization in a state of financial and moral disarray.

Powell said that the lawsuit filed by the New York Attorney General for an array of "illegal conduct" merely scratches the surface of a much deeper culture of corruption.

18 members of the NRA’s board who are not paid as directors collected money from the group during the past three years, according to tax filings, state charitable reports and NRA correspondence.

CEO Wayne LaPierre racked up hundreds of thousands of dollars in charges at a Beverly Hills clothing boutique and on foreign travel, invoices show. Oliver North, forced out as president after trying to oust LaPierre, was set to collect millions of dollars in a deal with the NRA’s now-estranged public relations agency, Ackerman McQueen, according to LaPierre. And the NRA’s outside attorney reaped “extraordinary” legal fees that totaled millions of dollars in the past year, according to North.

“In 25 years of working in this field, I have never seen a pattern like this,” said Douglas Varley, a Washington attorney at Caplin & Drysdale who specializes in tax-exempt organizations and reviewed the NRA’s federal and state filings from 2016 through 2018 for The Washington Post. “The volume of transactions with insiders and affiliates of insiders is really astonishing.”

The NRA is under investigation by multiple government entities, including the attorneys general of New York and the District of Columbia, and is embroiled in numerous lawsuits related to its billing practices and fallout from the financial misconduct scandals.

Disgruntled former employees sometimes tell tall tales.

In any event, does the New York AG know how much the leadership of Planned Parenthood or Media Matters pays for their duds? I'm not saying its out of line, but if the retards up there think its a "crime" to spend too much, they should know.

In any event, the NRA is leaving New York and moving their operations elsewhere. You should be glad.

 

[schmidlap]

Disgruntled former employees sometimes tell tall tales.

If meritless - like Trump's fake challenges to the election in dozens of courts - they are summarily dismissed.

The charges against the NRA were initiated by conservative insiders:

“I do not support Wayne LaPierre continuing as the EVP/CEO of the NRA... There is a cabal of cronyism operating within the NRA and that exists within the Board of Directors. It must cease, and I do not care if I draw their angst."​

​

Retired U.S. Army Lieutenant Colonel Allen West​

NRA board member: 'Imperative' to clean house, move on from CEO Wayne LaPierre

A prominent board member of the National Rifle Association urged the organization to clean “its own house” and move on from CEO Wayne LaPierre’s leadership on Tuesday.

abcnews.go.com

​

Obviously, the NRA going from a $27.8 million surplus in 2015 to a $36.3 million net deficit in 2018 evokes legitimate concerns of fiscal malfeasance.

Fancy Pants LaP will have to defend himself. (He would do well to sport L.L.Bean of Freeport in court rather than his Zenga of Beverly Hills threads if he wants to avoid a polyester orange jumpsuit.)

 

[schmidlap]

Tell that to independent and franchise restaurant owners locked down in democrat(sic)-controlled states.

Diversion noted, but the partisan nature of it is invalid:

North or south, red or blue — states shut down their economies at about the same pace

North or south, red or blue — states shut down their economies at about the same pace, CNBC analysis shows

The historic economic shutdown from the coronavirus took hold in mid-March at roughly the same pace across the nation, a CNBC analysis shows.

www.cnbc.com

Meanwhile, Squinty 'Fancy Pants' LaP and his fellow prissy conmen may not be able to weasel out of their scandal via bankruptcy:

A major donor to the National Rifle Association is poised to challenge key aspects of the gun group’s bankruptcy filing, in an attempt to hold executives accountable for allegedly having defrauded their members of millions of dollars to support their own lavish lifestyles.​

​

Dave Dell’Aquila, a former tech company boss who has donated more than $100,000 to the NRA, told the Guardian on Saturday he was preparing to lodge a complaint in US bankruptcy court in Dallas, Texas. If successful, it could stop top NRA executives discharging a substantial portion of the organization’s debts.​

​

It could also stop Wayne LaPierre, the NRA’s controversial longtime chief executive, avoiding ongoing lawsuits that allege he defrauded the pro-gun group’s members to pay for luxury travel to the Bahamas and Europe and high-end Zegna suits.​

​

Major NRA donor to challenge gun group's bankruptcy over alleged fraud

​

 

[miketx]

We have 5 gun stores in my town all have waiting lists to get in...

You must live in a really fucked up town. I can get into any of the gun stores in my area without a waiting list.

Yeah but he goes in when they are open.

 

[miketx]

Exclusive: NRA's former No. 2 official Joshua Powell describes 'decades of fraud, corruption' inside lobby group

"Not only did I think it was OK, I stirred the Kool-Aid and I drank it, stirred it and passed it out," said Powell, discussing his book on the NRA.

www.usatoday.com

Do they think moving to Texas will protect them from the NY AG? Well, bankruptcy will get them off the hook for some fines, anyway. Won't it?

For crooked entities bankruptcy is almost a badge of honor. For the average Joe or Jane its a death sentence.

Not so liar.

 

[Polishprince]

Tell that to independent and franchise restaurant owners locked down in democrat(sic)-controlled states.

Diversion noted, but the partisan nature of it is invalid:

North or south, red or blue — states shut down their economies at about the same pace

North or south, red or blue — states shut down their economies at about the same pace, CNBC analysis shows

The historic economic shutdown from the coronavirus took hold in mid-March at roughly the same pace across the nation, a CNBC analysis shows.

www.cnbc.com

Meanwhile, Squinty 'Fancy Pants' LaP and his fellow prissy conmen may not be able to weasel out of their scandal via bankruptcy:

A major donor to the National Rifle Association is poised to challenge key aspects of the gun group’s bankruptcy filing, in an attempt to hold executives accountable for allegedly having defrauded their members of millions of dollars to support their own lavish lifestyles.​

​

Dave Dell’Aquila, a former tech company boss who has donated more than $100,000 to the NRA, told the Guardian on Saturday he was preparing to lodge a complaint in US bankruptcy court in Dallas, Texas. If successful, it could stop top NRA executives discharging a substantial portion of the organization’s debts.​

​

It could also stop Wayne LaPierre, the NRA’s controversial longtime chief executive, avoiding ongoing lawsuits that allege he defrauded the pro-gun group’s members to pay for luxury travel to the Bahamas and Europe and high-end Zegna suits.​

​

Major NRA donor to challenge gun group's bankruptcy over alleged fraud

​

The lawsuit in New York is so much bullshit, you know. Are we really supposed to believe that the Far Leftard AG of New York gives a shit about whether NRA members might not have a "proper accounting" of the organization's money? As far as AG James is concerned, the members of the NRA could all drop dead and she could care less.

 

[Concerned American]

Tell that to independent and franchise restaurant owners locked down in democrat(sic)-controlled states.

Diversion noted, but the partisan nature of it is invalid:

North or south, red or blue — states shut down their economies at about the same pace

North or south, red or blue — states shut down their economies at about the same pace, CNBC analysis shows

The historic economic shutdown from the coronavirus took hold in mid-March at roughly the same pace across the nation, a CNBC analysis shows.

www.cnbc.com

Meanwhile, Squinty 'Fancy Pants' LaP and his fellow prissy conmen may not be able to weasel out of their scandal via bankruptcy:

A major donor to the National Rifle Association is poised to challenge key aspects of the gun group’s bankruptcy filing, in an attempt to hold executives accountable for allegedly having defrauded their members of millions of dollars to support their own lavish lifestyles.​

​

Dave Dell’Aquila, a former tech company boss who has donated more than $100,000 to the NRA, told the Guardian on Saturday he was preparing to lodge a complaint in US bankruptcy court in Dallas, Texas. If successful, it could stop top NRA executives discharging a substantial portion of the organization’s debts.​

​

It could also stop Wayne LaPierre, the NRA’s controversial longtime chief executive, avoiding ongoing lawsuits that allege he defrauded the pro-gun group’s members to pay for luxury travel to the Bahamas and Europe and high-end Zegna suits.​

​

Major NRA donor to challenge gun group's bankruptcy over alleged fraud

​

The lawsuit in New York is so much bullshit, you know. Are we really supposed to believe that the Far Leftard AG of New York gives a shit about whether NRA members might not have a "proper accounting" of the organization's money? As far as AG James is concerned, the members of the NRA could all drop dead and she could care less.

More attempts by the left to disenfranchise half of the nation.