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 Billy
Corgan has filed a lawsuit against TNA and some of its key players in Chancery
Court in Nashville, TN. The defendants listed in the suit are TNA Entertainment,
their parent company Impact Ventures, Dixie Carter, her husband Serg Salinas,
and TNA Chief Financial Officer and Chief Operating Officer Dean Broadhead. It
was announced in August that Corgan had taken over as president of TNA. Carter
then became company chairman. Prior to Bound for Glory it was assumed that the
company would be sold so it could pay its bills and do the following TV tapings
but that didn’t happen. TNA is currently $3.4 million on debt to Anthem Sports,
Aroluxe and MCC Acquisitions. TNA has already sold some of its tape library to
Anthem and the State of Tennessee had issued a tax lien against TNA
Entertainment, LLC. Corgan s lawsuit included a restraining order that prevents
either a sale of the tape library to The Fight Network or WWE, as well as a sale
of the company, or any stock in the company. The Fight Network (Anthem) has been
loaning TNA to keep them afloat and Corgan’s agreement with Carter is that if
the company was not solvent, then he would be able to make all the key
decisions. The Fight Network and Carter/Salinas are attempting to buy Corgan's
stock in the company back so that they could repay him the money he gave them so
that the lawsuit could be dropped but that’s not an option for Corgan. He isn’t
the only person suing TNA. Bankdirect Capital Finance, LLC is asking for
$207,612.29 plus late charges, interest and attorney fees and American Express
is asking for $269,049.50 in travel related expenses. Dave Meltzer of the
Wrestling Observer suggests that TNA will likely file for bankruptcy to get out
of paying their massive debt. |
