Wayne’s Grift In Trouble. Judge Rejects NRA Bankruptcy Filling

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A Texas judge tossed the NRA’s bid to declare bankruptcy, saying it was filed in “bad faith” in an effort to dodge litigation in New York.

Judge Harlin Hale tossed the case after New York Attorney General Letitia James and others questioned how legitimate the January 15th bankruptcy filing was, according to a report by Law 360.

The group filed for Chapter 11 bankruptcy after James filed a lawsuit to dissolve the NRA – alleging that the organization has abused its status as a nonprofit, along with corruption, and a “culture of self-dealing, mismanagement, and negligent oversight” fostered by longtime CEO Wayne LaPierre.

no more trips to Brooks Borthers, Wayne

The decision means that Hale will be able to more easily seize the NRA’s assets if she prevails in her New York lawsuit, where she argued that the group should be dissolved.

According to bankruptcy filings, the organization has $50 million more assets than their debt load, making the financially solvent. In their bid to restructure and move to Texas, the NRA claimed that New York’s regulatory environment is corrupt. NRA attorneys accused James, a Democrat, of waging a political campaign against the organization – and argued that Texas would offer a ‘regulatory haven’ for the gun-rights group.

Meanwhile, LaPierre faces additional litigation from James’ office, after the Wall Street Journal reported that the IRS is investigating him for potential criminal tax fraud.

3 COMMENTS

  1. I kind of wish the judge would have appointed a receiver, cleared out the executive suite and the BOD and ordered the receiver to call new elections. Would’ve been interesting to see what shook out of that.

  2. This is proof that Wayne is in this for him self.

    If he gave a damn he would have stepped aside before this became a very public S*!t show before what is a likely biased judge and an absolutely biased prosecution.

  3. The last time I was asked to one of their callers, I told them no more money until Wayne is out…not that I’m going to give them any money but I would like to see the organization cleaned up for nostalgia reasons if nothing else. She said they’re hearing that a lot.

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