Business

NRA chief stands up with cracked armor

Lapierre is aiming to take advantage of bankruptcy to reorganize the NRA into a more gun-friendly state of Texas, and has already repaid about $ 300,000 to the NRA as he continues to work. Asked if he was disciplined for delinquent money, he said, “Yes, I was disciplined. I paid back.” Suggested that it may end up being.

It is not yet known if his bankruptcy gambit will work. Attorney General Letitia James and a major creditor (former NRA advertising firm Ackerman McQueen) to persuade Judge Hale that the NRA’s petition should be dismissed during a trial that began last week. Lawyers said Mr. Lapierre was dishonestly seeking bankruptcy protection.

Proving that the filing was done maliciously can be difficult because it means showing intent. However, Deputy Prosecutor General Monica Connell lacks the authority to bankrupt the NRA on her own and uses “complex” tactics to unknowingly give the board the necessary permits. Claimed to have done.

Rather than submitting a bankruptcy resolution to the board, Connell said Lapierre’s team had asked the board to vote for his new employment contract. It looked like a reform measure because it reduced his golden parachute.

However, the contract contained an unobtrusive clause that gave Lapierre “unrestricted” authority to “reorganize or restructure the association’s operations for purposes such as minimizing costs and complying with regulations.”

The new contract was first presented to a committee of the NRA Board of Directors in a private session on January 7. There weren’t enough copies to go around and no one could take the copy away. NRA officials said board members had ample time for review.

By that time, Lapierre’s primary outside adviser, William A. Brewer III, had spent months planning bankruptcy and accumulating millions of dollars in statutory costs. But no one told the board about it. After the committee got out of a private session, the board approved the deal, but little thought of empowering Lapierre to go bankrupt.

NRA chief stands up with cracked armor

Source link NRA chief stands up with cracked armor

Back to top button