“… Today, the NRA announced a restructuring plan that positions us for the long-term … The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas. To facilitate the strategic plan and restructuring, the NRA and one of its subsidiaries have filed voluntary chapter 11 petitions … chapter 11 proceedings are often utilized by businesses, nonprofits and organizations of all kinds to streamline legal and financial affairs. Under the plan, the NRA will continue what we’ve always done … No major changes are expected to the NRA’s operations or workforce …”
I’m sure there is more to the bankruptcy filing than just this and as time goes on it will become apparent.
“The NRA’s claimed financial status has finally met its moral status: bankrupt. While we review this filing, we will not allow the NRA to use this or any other tactic to evade accountability and my office’s oversight.”