The National Rifle Association of America announced on Friday to have filed for Chapter 11 bankruptcy and to have set plans in motion to relocate to Texas. But is the NRA really going bankrupt? Not really...
As usual, when it comes to guns and mainstream media, the truth may be slightly different from the way it is given out to the public.
Such was the case on Friday, January 15th, 2021, when the National Rifle Association – the biggest and most important gun rights advocacy group in the United States of America – declared to have filed for Chapter 11 bankruptcy reorganization and to be opening a phase of deep renovation, including a reincorporation elsewhere in the United States, mainstream media worldwide were quick to come out with lines such as: "Following Trump's defeat, and faced with legal trouble and economic disarray, the NRA has filed for bankruptcy".
That would be very bad news for Second Amendment rights supporters in the US, given how President-Elect Joe Biden has one of the craziest and most radical gun control plans to have ever been conceived as a political platform in America, and has lately declared that he plans to "defeat the NRA" in order to "end the epidemic of gun violence in America".
Is the NRA really going bankrupt?
In order to distinguish the mainstream media headlines from the truth, one should first take a look at the Title 11 of the U.S. Code (bankruptcy code), and more specifically to the Chapter 11, the one that the NRA has filed for.
In the United States, bankruptcy proper and liquidation is not regulated by Chapter 11 but by another chapter of the bankruptcy code – more specifically, Chapter 7. Chapter 11 of the bankruptcy code is aptly named "reorganization", and allows corporations and private entities that file for it to reorganize their assets without actually going bankrupt and having to dissolve and liquidate their estate in order to pay off creditors.
Chapter 11 is meant to provide a chance for companies that are in a state of economic disarray to survive by filing an acceptable plan to settle all claims. Major gun manufacturers such as Colt and Remington filed for Chapter 11 several times in the past years, and they still exist and operate.
In practice, however, most companies that file for Chapter 11 reorganization simply aim to access to a quicker and easier way to reincorporate away from their original State of incorporation.
And this is exactly what the NRA aims to do.
It's a fact that the National Rifle Association is currently at the center of numerous legal battles, due mainly to the largely controversial management of the org by standing executive vice-president Wayne LaPierre, who has been in charge since 1991. Despite high and sometimes dubious expenditures, however, the NRA remains in a solid state and still enjoys a solid membership base; at the same time, gun sales in America touched historical record levels in 2020.
The NRA opened a dedicated website – nraforward.org – to provide information to its members and to all gun rights supporters about its future plans; in it, the National Rifle Association clearly states that the main scope of the Chapter 11 process is to reincorporate in Texas.
Escape from New York
While the headquarters and offices of the NRA have long been located in Fairfax, Virginia, the association itself is today incorporated in the State of New York – and has been ever since it was established in 1871. Today, however, incorporation in NY is no longer sustainable for the NRA, as the State has become a stronghold for some of America's staunchest gun grabbers.
Back in August 2020, Letitia James – incumbent Attorney General of the State of New York, a democrat, and known for being nothing short of a foam-mouthed opponent of Second Amendment rights – declared that she would seek to obtain the dissolution of the NRA in Court. Being the State of New York home to some of the fiercest gun control advocates in the US, both in politics and in court, the NRA was indeed in danger of being soon hit with disproportionate, politically-motivated rulings.
With Joe Biden now at the White House, ready as he is to exploit any and all weaknesses of gun rights advocates to pass sweeping gun control, the risk was too high to ignore any further.
Reincorporation in Texas – which had already been suggested by Donald Trump back in August and warmly greeted by republican Texas Governor Greg Abbott – will thus allow the NRA to undergo a deep reorganization and some radical changes that were long overdue and to keep working for gun rights in America from a State that has a tradition of public, social, and political support for Second Amendment rights, so much so that it may become a "sanctuary State" should gun control legislation be passed in Congress.
Despite the hopes of gun grabbers worldwide and the headlines of their friends in the mainstream media, America's oldest civil rights organization appears to be no closer to a final curtain call than it ever used to be, and is bracing for changes that will allow it to fight even further for the defense of the constitutional rights of American citizens.
And that's good to hear, because the Biden administration has a majority in both branches of Congress, but a very slim one at the Senate: with democratic candidates winning both run-offs in Georgia in early January, the Senate is now tied, and only the vote of vice-president Harris or the defection of some senators from one side to the other may break that tie. An all-out struggle is ahead, as gun rights advocates brace for what is likely to be fiercest attack that the Second Amendment has ever sustained in 244 years.