NRA Has No Debt, NYAG Says In Final Plea To Toss Its Ch. 11

By Vince Sullivan (May 3, 2021, 11:00 PM EDT) -- The New York Attorney General's Office made its closing argument Monday in its bid to have the National Rifle Association's Chapter 11 case tossed from a Texas bankruptcy court, saying the organization doesn't have any financial issues to justify its insolvency proceeding.

During a virtual hearing, Gerrit M. Pronske of Spencer Fane LLP said on behalf of the attorney general that the NRA's own statements made at the time of the filing of its Chapter 11 petition in January belie the true reason for the commencement of the bankruptcy case, which was to "dump New York" to escape an unfavorable regulatory environment....

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