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Wayne’s Response

May 11, 2021 by 7 Comments

I’m sure Wayne and Bill Brewer are disappointed.

Judge Hale said the decision to declare bankruptcy was Wayne’s alone and therefore he gave Wayne’s testimony the most scrutiny (p. 18). It was Wayne’s own testimony (p. 23) that sunk the case as he ultimately admitted the primary purpose was to gain a litigation advantage against the NY Attorney General by taking dissolution off the table using bankruptcy. Once it was found that the primary purpose was a litigation advantage, it was the bankruptcy had to be considered in bad faith. The alternative to dismissal was an examiner or trustee but Judge Hale said the strong financial condition plus the new safeguards mitigated against the appointment of either.

I think one of the key paragraphs in the whole decision was this one on page 34:

What concerns the Court most though is the surreptitious manner in which Mr. LaPierre
obtained and exercised authority to file bankruptcy for the NRA. Excluding so many people from
the process of deciding to file for bankruptcy, including the vast majority of the board of directors,
the chief financial officer, and the general counsel, is nothing less than shocking.

It is time for the Board of Directors to step up and do what they should have done a long time ago and that is clean house starting at the top.

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7 thoughts on “Wayne’s Response”

  1. Definitely bad faith but I don’t know about the strong financial condition. I know that WLP has asserted that but I can see no particular reason to believe him. I am not seeing a lot of activity from the NRA in this time of peril.

  2. P23: Mr. LaPierre then confirmed that if the NRA’s bankruptcy case is dismissed, the NRA would be able to pay its debts in full and meet its obligations.

    What a freaking idiot!

    Maybe we should all just let the NY AG dissolve the NRA. It might be the only way we get rid of this leech.

    1. The Second Amendment Foundation does a lot more in my opinion, they get my money. They win lawsuits. All I get from the NRA is a bunch of 1980s style spam.

  3. “It is time for the Board of Directors to step up and do what they should have done a long time ago and that is clean house starting at the top.”

    But you know they won’t. WLP controls the Ethics Committee, among others, because he hand-picked the members.

    The only way Wayne is leaving office is in handcuffs, a body bag, or as the building burns around him.

    1. I wish I could claim you are wrong, Erin. I really do wish so.
      But I don’t think you are.
      At this point, I don’t see the handcuffs coming, nor a body bag. But I think I smell smoke…

  4. Pingback: NRA’s Response to Bankruptcy Ruling | Shall Not Be Questioned

  5. Nothing would please me more than to be proven wrong.

    Sadly, I don’t think I will be.

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