In a lengthy opinion, United States Bankruptcy Judge Harlin DeWayne Hale has dismissed the Chapter 11 petition filed by the National Rifle Association. The case was dismissed “without prejudice,” meaning the NRA could theoretically refile it.
From the conclusion of the opinion:
There are several aspects of this case that still trouble the Court, including the manner and secrecy in which authority to file the case was obtained in the first place, the related lack of express disclosure of the intended Chapter 11 case to the board of directors and most of the elected officers, the ability of the debtor to pay its debts, and the primary legal problem of the debtor being a state regulatory action.
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