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NRA files for bankruptcy, says it will reincorporate in Texas

• SpikeDad 6y ago
  A transparent effort to move to a state that doesn't care what goes on there and to avoid legal responsibility. Reminds me of a soon to be former president leaving their town. How is a group allowed to file for bankruptcy when they're not bankrupt? They have assets and expenses that are adequate.
  • ghgdynb1 6y ago
    When Lehman went bankrupt it had $691,063,000,000 USD in assets on its books. Having assets available does not preclude the submission of a bankruptcy petition. I don’t think I can clarify wrt to expenses, since I don’t know what you mean when describing their expenses as adequate. I would suggest further research on the meaning and implications of bankruptcy.
  • dragonwriter 6y ago
    > How is a group allowed to file for bankruptcy when they're not bankrupt? Bankrupt is a legal status that results from filing for (or being forced into) bankruptcy. I think your second “bankrupt” probably is intended to mean “insolvent” But it's been clear for a while that the NRA was in dire financial straights, as well, so while it's strategic it's not completely uncalled for.
  • throwawaygulf 6y ago
    >A transparent effort Transparency is a good thing. >move to a state that doesn't care what goes on there Moving to a state that cares about civil liberties and freedoms. FTFY. >How is a group allowed to file for bankruptcy when they're not bankrupt? They have assets and expenses that are adequate. How can someone attempt to make points on an issue but not understand the basic definition of "bankruptcy"? Your bias is showing. Big time.