A lot of people have asked if an entity needs to be insolvent prior to filing for bankruptcy. Short answer is no. https://twitter.com/Prof_Bruckner/status/1350497433214742531?s=20

But bankruptcy is a set of tools for addressing financial distress and if there is no financial distress, I expect the case will be dismissed https://twitter.com/Prof_Bruckner/status/1350255116746678272
But whether or not the NRA is in enough financial trouble to justify access to the bankruptcy courts is not going to turn on what the NRA says on its website.

The NRA is going to have to disclosed a LOT of its financial information.
The bankruptcy court, interested AGs, and the NRA's creditors will pour over these disclosures and reach their own views. #NRA #bankruptcy
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