Breaking: Texas Judge Dismisses NRA’s Bankruptcy Petition as ‘Bad Faith’

A Texas judge tossed out the National Rifle Association's Chapter 11 bankruptcy petition on Tuesday, allowing a lawsuit brought against the group by the New York attorney general to move forward.

U.S. Bankruptcy Judge Harlin Hale said the NRA "did not file the bankruptcy petition in good faith," arguing that the filing was made in an effort to avoid the lawsuit by state attorney general Letitia James' office. The suit aims to dissolve the group over allegations of financial impropriety. 

“The question the court is faced with is whether the existential threat facing the NRA is the type of threat that the Bankruptcy Code is meant to protect against,” Hale wrote. “The court believes it is not.”

James' suit claims that top NRA officials, including Executive Vice President Wayne LaPierre, directed millions of dollars from the organization for personal use and unlawfully granted contracts to friends and associates.

The organization has denied the allegations.

Texas Judge Dismisses NRA's Bankruptcy Petition as 'Bad Faith' The judge argued that the filing was made in an effort to avoid the lawsuit by state attorney general Letitia ... READ MORE ADVERTISEMENT Follow Us & Share 19 West 44th Street, Suite 1701, New York, NY, 10036, USA Your Preferences | Unsubscribe | Privacy View this e-mail in your browser.