Nobody I know is a bankruptcy lawyer, but these guys are and these guys say some interesting stuff.
The National Rifle Association filed for bankruptcy in the Northern District of Texas (Dallas). The NRA’s press release says that the purpose of the bankruptcy is to enable the NRA to change from being a New York corporation to a Texas corporation. This is critical to the NRA because the NY Attorney General, who regulates NY non-profits, is seeking to have the NRA dissolved for financial malfeasance.
The NRA swears it’s gonna pay off all its debts and is like Donald Trump promising that he won the election, don’t count on it. I imagine that the NRA head guys and the head guys’ girlfriends have pretty much emptied out every dime they can.
The NRA is claiming it can change the location of their bankruptcy from New York to Texas, where they will be treated so much nicer, because one of their subsidiaries is in Texas. This subsidiary is Sea Girt, LLC, which amusingly was created on November 24, 2020.
There’s plenty more wrong with their whole swamp scam on this deal, but to be honest, I barely understand this much.
I do know that the New York AG is trying to dissolve the NRA and that Wayne LaPierre needs to keep his job and stay outta jail. But, it looks like Mr. LaPierre and the NRA are gonna be seeing a lot of the SDNY before this is over.
I’ve always found it karmic and comic that NRA supporters spent so much money donating to the NRA during the Obama years because Obama was going to take their guns. Well, only that they had less money to buy guns.
Thanks to Alfredo over at the Dairy Queen for the heads up.
CORRECTION: I looked at those LLC papers three times and saw the name of the company as Sea Girl all three times. The correct name is Sea Girt. Apparently Sea Girt has some historic meaning for the NRA. I don’t give a damn. But, I corrected it in the story anyway. Thanks to those who let me know that, like me, they like Sea Girl better.