We’ve gotten word that the trial date has been set for October 15, some three months away, and the trial is set for 6 weeks to 2 months. An attorney friend says it’s 50-50 on starting then, the defense teams will likely come up with some reason to continue it, since they have been making rosy predictions of the outcome, and trial will make it obvious those are untrue (just like the bankruptcy case), and they are NYC attorneys, probably billing at $1,000 an hour (NRA’s lead attorney bills at $1,400) and so prolonging the case is in their best interest, as in tens of millions of dollars best interest.
He also said — NRA is paying at least three teams of attorneys (for itself, LaPierre, and Frazer) and perhaps five. In a case this complex, each team is at least three attorneys, so that’s 9-15 attorneys. In trial, each will bill for at least 60 hours a week. Being NYC big firm attorneys, each will bill around $1,000 an hour. Even at the minimum (three legal teams) the attorney fees for the trial will be a half million a day, and $32-40 million total.
Add on expert witness fees (there are a lot of experts, at several hundred per hour), the time it will take to prepare for trial (likely as much as the trial), and NRA will probably pay out $80 million, or over a third of its revenues in legal costs this year. These are, of course, ruinous expenses. Whether a corporation is NRA or General Motors or Apple, spending a third of your revenues on legal expenses rather than your mission is fatal.
The budget approved by the board and based on a hope and a prayer assumed that legal expenses would decline substantially in 2023. No chance, they will explode.
UPDATE: We’ve received two reports, one said the trial will start mid-October, the other said October 15. There is nothing we can find on the court’s filings.
NRA in Danger 
Spot on analysis.
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Another sweepstakes mailing should cover the attorney fees, right?
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Just tossed mine in the trash (along with any & all other correspondence from the NRA).
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NRA will not prevail. The named NRA defendants will not prevail. Support for this prediction is established by reviewing N.Y. Atty. Gen.’s complaint, the amended complaint, the damaging depositions, damaging expert witness report, the damaging hearing in the bankruptcy court (the former NRA treasurer invoked the 5th Amend. privilege against self-incrimination, which in a civil case creates an adverse inference), the bankruptcy court’s finding of NRA’s bad faith filing (the blockheaded board retroactively approved the filing), and damaging testimony from witnesses with connections to NRA. The trial will reveal for all to see the mismanagement, waste, self-dealing, abandonment of fiduciary responsibilities, and avarice on the part of NRA officers and board. That will be the offering by these officers and board to the written history of NRA’s ruin.
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Are you sure about the start date of the trial? October 15th is a Sunday and I doubt that a trial would begin on a weekend.
I have checked Judge Joel Cohen’s calendar as well as the document list and I don’t see a scheduled trial date.
Thanks
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