COLT FILES FOR BANKRUPTCY, REVEALS PAYMENTS TO NRA, POLITICAL CONSULTANTS

As the iconic American gun maker Colt Defense struggled to stay in business after losing a key contract to supply M4 rifles to the U.S. Army, the company was paying a range of political allies, including the National Rifle Association, the consulting firm set up by retired Army General Stanley McChrystal, and other trade groups and lobbying outfits.

On Sunday, Colt announced its plan to file for chapter 11 bankruptcy protection. Colt’s contractors were revealed in a filing submitted to bankruptcy court on Monday.

The creditor matrix document filed by Colt doesn’t list amounts, but shows that the firm owed money to the National Rifle Association along with the NRA’s affiliated foundation and its “Life of Duty” outreach program to law enforcement. In recent election cycles, the NRA has used its nonprofit entity, backed with money from corporate partners and dues-paying members, to run aggressive campaign advertisements, largely to elect Republicans to Congress.

Colt registered some of its lobbyists with the appropriate authorities, informing the Secretary of the Senate that it had retained lobbyists Roger Smith and Jeffery Green to work on export licensing and defense-related issues in Congress.

https://firstlook.org/theintercept/2015/06/16/gun-maker-colt-neared-bankruptcy-made-payments-nra-political-allies-former-general-mcchrsytal/