NRA Files for Bankruptcy And Plans To Flee To Texas

  • The National Rifle Association of America, the gun-rights group feared for its lobbying clout but now threatened with dissolution by the state of New York, filed Friday for Chapter 11 bankruptcy and plans to move to Texas.
  • Restructuring in federal court will help the NRA exit “a corrupt political and regulatory environment in New York,” according to a statement on its website. The NRA’s petition filed in Dallas listed assets and liabilities of as much as $500 million each.
  • “The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas,” LaPierre, the group’s executive vice president, wrote in a letter on its website, citing “costly, distracting and unprincipled attacks” by politicians.

See full story here.

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