The NRA Bankruptcy case is dismissed as filed in "Bad Faith"
Yet another waste of tens of millions of members money to protect the Gang of 4 (LaPierre, Meadows, Cotton and Lee)
“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. The Court believes it is not. For the reasons stated herein, the Court finds there is cause to dismiss this bankruptcy case as not having been filed in good faith both because it was filed to gain an unfair litigation advantage and because it was filed to avoid a state regulatory scheme. The Court further finds the appointment of a trustee or examiner would, at this time, not be in the best interests of creditors and the estate.”
“The Court is not dismissing this case with prejudice, but should the NRA file a new bankruptcy case, this Court would immediately take up some of its concerns about disclosure, transparency, secrecy, conflicts of interest of officers and litigation counsel, and the unusual involvement of litigation counsel in the affairs of the NRA, which could cause the appointment of a trustee out of a concern that the NRA could not fulfill the fiduciary duty required by the Bankruptcy Code for a debtor in possession.”
https://storage.courtlistener.com/recap/gov.uscourts.txnb.490758/gov.uscourts.txnb.490758.740.0_1.pdf
And the do nothing board continues to do nothing….
I’ve been a vocal critic of NRA EVP Wayne Lapierre for his leadership style, and the Board leadership in not properly exercising their fiduciary responsibilities by submitting petitions calling for EVP Lapierre’s resignation as well as the resignation of the Board Officers and members of the executive, audit and finance committees at the 2019 and 2020 NRA Annual meetings. If they have not been removed by the 2021 meeting in Houston, I will do so again.
The 2021 Board election is where the members can have a say and change the culture of the NRA Board and get long overdue new leadership. The only director up for re-election that deserves support is Owen “Buz” Mills as he is publicly supporting Judge Journey’s efforts to reform the NRA. The remaining board candidates deserve no vote.
I ask that you please write me in on the ballot for the 2021 board of directors election when you get you ballot in the next couple of weeks. It will be out in the June/July issue of your NRA magazine.
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