Category: Bankruptcy

Judge Calls Bullsh%$ on NRA Bankruptcy

No Comments

The NRA is attempting to declare bankruptcy so that they could move to Texas in order to evade a corruption investigation by the New York Attorney General. 

Judge Harlin Hale has been dubiouys of the arguments presented by Wayne LaPierre and his Evil Minions™ throughout the trial, and he has now ruled that the NRA cannot declare bankruptcy to dodge prosecution. 

Sweet, sweet ammosexual tears:

A federal judge Tuesday denied an effort by the National Rifle Association to file for bankruptcy protection, ruling that the gun rights group had filed the case in a bad-faith attempt to fend off a lawsuit by the New York attorney general.

“The Court finds, based on the totality of the circumstances, that the NRA’s bankruptcy petition was not filed in good faith but instead was filed as an effort to gain an unfair litigation advantage in the NYAG Enforcement Action and as an effort to avoid a regulatory scheme,” Judge Harlin Hale wrote in a 37-page decision.

The decision was a victory for New York Attorney General Letitia James, who filed a far-reaching civil suit against the group last August accusing top officials of fraud and self-dealing. NRA chief Wayne LaPierre and his legal team had contended that the lawsuit was a political act intended to destroy the organization.

AG James is not attempting to shut down the NRA, she is attempting to throw Wayne LaPierre, and his corrupt cabal in jail.  In fact, it could be argued that her efforts may create a more accountable and transparent National Rifle Association.

………

Adam Levitin, who teaches bankruptcy law at Georgetown University Law Center, said the ruling was not surprising, calling the NRA’s petition “a poster child for a bad-faith filing.”

He said he did not think the organization had good arguments for appeal, noting that LaPierre’s position as head of the organization could be at risk in such a move.

Hale’s decision follows a weeks-long hearing that revealed details about alleged mismanagement and excessive spending by top officials at the influential gun lobby, including LaPierre, the NRA’s controversial leader for the past three decades.

A trustee has not been appointed, which is a fly in the ointment, but I am happy about this ruling.

How Convenient

No Comments

It turns out that Purdue Pharmaceuticals conducted an in-depth probe of the Sackler family, but they are refusing to release the results. 

If the results exonerated anyone, they would been in a press release:

Purdue Pharma, the maker of Oxycontin, conducted what may be the most extensive investigation yet of the Sackler family, exploring whether they committed crimes or financial improprieties, but the company has kept most of its findings secret.

In a bankruptcy filing late Monday, the drugmaker acknowledged hiring attorneys, forensic accountants and other financial experts to probe members of the family who own the company and profited billions from opioid sales.

According to the filing, the team searched for evidence of wrongdoing by the family, reporting to a special committee of Purdue’s board between April 2019 and earlier this month.

Yet in its filing, Purdue Pharma chose to reveal almost nothing of what investigators uncovered, a decision that infuriates opioid activists and some government officials.

“They’re still trying to cover up the facts,” said Massachusetts Attorney General Maura Healey, who has sued the company and it owners, in a statement.

“Purdue’s disclosure filing says it paid its lawyers for a 22,000-hour investigation of the Sacklers, but it doesn’t disclose any of their findings,” she added.

First, the Sacklers decided to become drug pushers, and when they got caught, the Sacklers decided to loot the company before declaring bankruptcy. 

Once again, I think that the best way to deal with this is to apply the Billy Ray Valentine principle, “You know, it occurs to me that the best way you hurt rich people is by turning them into poor people.”