National rifle association files for bankruptcy

[HundredRoom]

Just reported
bust


If only they had to hand over all their guns to pay their creditors

 

[Jedi boro]

Ha ha really well that’s is big
An right so not quite then


The National Rifle Association announced that it intends to restructure as a nonprofit based in Texas and has filed for Chapter 11 bankruptcy protections.

"The move will enable long-term, sustainable growth and ensure the NRA's continued success as the nation's leading advocate for constitutional freedom -- free from the toxic political environment of New York," the gun advocacy group said in a statement Friday.

The NRA added that it has been incorporated in New York for approximately 150 years.
Abc

 

[Abel Tasman]

They are deliberately avoiding the authorities charges of malpractice in doing this. This is pure running away from legal culpability rather than a no money issue.

 

[Norman_Conquest]

They are deliberately avoiding the authorities charges of malpractice in doing this. This is pure running away from legal culpability rather than a no money issue.

Surely there is a law against doing that.

 

[Abel Tasman]

Surely there is a law against doing that.

Like many limited companies in the UK who have taken out a Cbil or bounce back loan they will avoid their legal obligation to repay simply by folding.

Do appreciate its a different matter but if an entity no longer exists their legal obligations are no more. Unless the directors had given a guarantee.

 

[Norman_Conquest]

Like many limited companies in the UK who have taken out a Cbil or bounce back loan they will avoid their legal obligation to repay simply by folding.

This is something I have always struggled to understand and have seen smaller companies lose out because of this.

I once worked in Devon and the camp site I stayed on changed ownership three times in the 18 months I was there and left a mountain of debt. The chalet my brother stayed in burnt down through an electrical fault on the oven. and to avoid paying compensation for the gear they lost, he went bust.

I dare say he didn't have any insurance.

 

[NYboro]

This is something I have always struggled to understand and have seen smaller companies lose out because of this.

I once worked in Devon and the camp site I stayed on changed ownership three times in the 18 months I was there and left a mountain of debt. The chalet my brother stayed in burnt down through an electrical fault on the oven. and to avoid paying compensation for the gear they lost, he went bust.

I dare say he didn't have any insurance.

Trump's done it six times.