Last week, the National Rifle Association (NRA) filed for bankruptcy in Dallas, Texas. Bloomberg reports that while U.S. Bankruptcy Judge Harlin D. Hale is unlikely to make any final rulings during an initial hearing, the judge could decide to reject the case, since the NRA has said it isn’t insolvent or bankrupt and told members the group is in “its strongest financial condition in years.”
“If you take what the NRA is saying at face value, it presents a strong argument for the case to be dismissed for a lack of good faith,” said Professor Robert Lawless. “They’re going to have to come up with some financial reasons for doing this.”
Read the full article at bloomberg.com.