SHOW NOTES FOR EPISODE #13: NRA TAKES A SHOT AT BANKRUPTCY

INTRODUCTION

Hello and welcome to Learning the Law, a podcast about all things legal with a focus on current events where we try and teach you things in an hour. My name is Ashley, aka PhoenixNymphy and my co-host who is the man of the hour, my husband Ron. This podcast is purely educational and should not be taken as legal advice, this podcast does not create an attorney client relationship, this podcast is based on his interpretation of relevant law. Any opinions expressed are the opinions of the individual making them and do not reflect the opinions of any firm, company or other individuals. Ron is a licensed practicing attorney in the state of California.

Itinerary

1. Our Weeks
2. Questions from the audience
3. Topic of the week – NRA Bankruptcy
   1. NRA filed for bankruptcy Jan
      1. Filed to avoid litigation in NY
         1. The N.R.A. was chartered in New York a century and a half ago, but it filed its bankruptcy case in federal court in Dallas and is seeking to move its charter to Texas, where politicians are far more favorable to the organization. But the position of the U.S. trustee’s office, which weighed in during closing arguments on the final day of the trial, is likely to weigh on the presiding judge, Harlin D. Hale, who said he will decide by early next week. The United States Trustee Program oversees the integrity of the nation’s bankruptcy courts. 
         2. Trustee move was rare
            1. How often have the US trustee gotten involved in litigation case – no stats
         3. What is the NY Case
            1. NY Attny General Sued to dissolve NRA
               1. Politico August article
                  1. “That’s a very terrible thing that just happened,” he told reporters. “I think the NRA should move to Texas and lead a very good and beautiful life. And I’ve told them that for a long time. I think they should move to Texas.”
                  2. The attorney general also accuses LaPierre and his wife of using thousands of dollars in NRA funds to buy Christmas and birthday presents for the principal stakeholder of a company that did business for the gun group, as well as the stakeholder’s wife and daughter.
               2. Politico Jan article
               3. NRA has $35 million in debt coming due in 2022.
               4. New York has law that prevents NRA from dissolving without state’s permission
            2. Bankruptcy
               1. The Purpose
               2. The process
               3. Chapter 7, chapter 13, and chapter 11
               4. How soon in advance can you file a BK if the debt is not due.

CLOSING

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