Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Texas Judge Tosses Out NRA’s Bankruptcy Filing Putting Gun Group in Peril
Posted
May 11, 2021
Views
402,753
Likes
3,317
Comments
2,261
Engagement
May 11, 2021
402,753
3,317
2,261
1.38%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
0:59Now PlayingThe National Rifle Association’s bankruptcy filing was rejected by a Texas judge, leaving it vulnerable to a New York attorney general who is seeking to dissolve the powerful gun group.
After a weekslong trial, U.S. Bankruptcy Judge Harlin “Cooter” Hale on Tuesday dismissed the Chapter 11 case and halted a proposal to reincorporate the New York-based association in Texas. New York officials claimed the filing was a bad-faith effort to use the protections of bankruptcy to avoid its lawsuit.
The decision means that New York Attorney General Letitia James should have an easier time seizing the NRA’s assets if she wins her court case. James claims that NRA head Wayne LaPierre and others so badly mismanaged the group that it should be shut down.
The NRA’s case foundered in part because the gun lobby acknowledged that it wasn’t having financial difficulty. The judge wrote that he agreed with the New York attorney general that “the NRA is using this bankruptcy case to address a regulatory enforcement problem, not a financial one.”
James, a Democrat, rejected the NRA’s claim that she targeted the organization for “nefarious” political purposes, including her stance on stricter gun control.
“Despite the personal attacks, this has nothing to do with the Second Amendment,” she said on a call with reporters. “This is about accountability.”
The NRA remains committed to its members and its plan for the future, LaPierre said in a statement, following the ruling. He said the group was disappointed in some aspects of the decision.
“We remain an independent organization that can chart its own course, even as we remain in New York to confront our adversaries,” LaPierre said. “The NRA will keep fighting, as we’ve done for 150 years.”
Subscribe to our YouTube channel
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
