(Reuters) – The National Rifle Association on Friday filed petitions with an American bankruptcy court seeking protection from creditors by restructuring, the gun rights advocacy group announced.
The NRA filed Chapter 11 petitions in US bankruptcy court in Dallas, it said in a news release.
The NRA said it would restructure the “non-corrupt political and regulatory environment New York” as a Texas nonprofit in the state where it is currently registered.
The influential group said in a statement that there would be no immediate change in its operations or workforce, and that it would “continue with the advancement of the enterprise – countering anti-Second Amendment activities, promoting gun safety and training, and public Moving programs. Across the United States. “
The Second Amendment of the US Constitution guarantees the right to own and bear arms.
Last August, New York State Attorney General Letitia James sued to dissolve the NRA, with senior leaders of the nonprofit group diverting millions of dollars for personal use and to buy the silence and loyalty of former employees Drove.
A lawsuit filed by James in a state court in Manhattan led NRA leaders to pay for the Bahamas, private jets and expensive food, contributing a $ 64 million reduction to the NRA’s balance sheet in three years, leaving a surplus in deficit Changed.
The NRA sued James James, a Democrat, in federal court, saying he violated the NRA’s right to free speech and sought to block his investigation. Litigation is pending.
The NRA has been one of the major voices opposing proposed or existing gun control measures in recent decades.
The NRA’s actions would likely press the Attorney General’s lawsuit, and a reevaluation could sabotage the group’s ability to seek dissolution. In his lawsuit, James stated that the inclusion of the NRA as a nonprofit in New York gave him authority to dissolve.
Reporting by Jan Wolfe and Jonathan Stampel; Editing by Leslie Adler, Rosalaba O’Brien and Jonathan Otis