Bully Corgan files for lawsuit on TNA.

[Prophet of Ash]

Oct 15, 2016 8:09:27 GMT -5 @anthony18 said:

Oct 13, 2016 21:41:07 GMT -5 Cane Dewey Riley said:

Whatever gets Clarence Mason back on TV.

I wonder what name he would use? WWE owns the name "Clearance Mason" and may own the name "Luther Biggs" after they bought wcw. 

What's Luther Mason doing in the Impact Zone?

[JC Motors]

Billy Corgan has no idea what he's doing? I think he's trying to pull off what Eric Bischoff failed to do when he tried to purchase WCW

[REAL REVY]

Oct 15, 2016 8:38:37 GMT -5 Prophet of Ash said:

Oct 15, 2016 8:09:27 GMT -5 @anthony18 said:

I wonder what name he would use? WWE owns the name "Clearance Mason" and may own the name "Luther Biggs" after they bought wcw. 

What's Luther Mason doing in the Impact Zone?

Tna lost the copyright

[Deleted]

TNA situation really sucks for all wrestlers and staff. Remember them before you crack jokes. All they want to do is their job.

[TheLastDude]

Oct 18, 2016 14:45:55 GMT -5 @bangarang said:

TNA situation really sucks for all wrestlers and staff. Remember them before you crack jokes. All they want to do is their job.

You have absolutely no idea what actually goes on in threads you post in, do you? You just click a random thread and post a random thought. The only person anyone in here made fun of was Dixie Carter, and she deserves everything she gets and more.

[powerfred3k]

Anthem Sports & Entertainment Corp not only just bailed out tna, they might pay off Billy Corgan so he will end his legal action against tna.

TNA Wrestling really does have 9 lives: fightnetwork.com/news/6576040:anthem-statement-on-investment-in-tna-impact-wrestling/

[Mr. PerpetuaLynch Motion]

Oct 19, 2016 19:00:19 GMT -5 powerfred3k said:

Anthem Sports & Entertainment Corp not only just bailed out tna, they might pay off Billy Corgan so he will end his legal action against tna.

TNA Wrestling really does have 9 lives: fightnetwork.com/news/6576040:anthem-statement-on-investment-in-tna-impact-wrestling/

Pretty sure the ninth life was after the Destination America deal fell apart, this is unchartered "will not die" territory.

[powerfred3k]

I'm curious to see if Billy corgan gets paid off, will he bail ?

[vampiroporvida]

Oct 21, 2016 9:39:36 GMT -5 powerfred3k said:

I'm curious to see if Billy corgan gets paid off, will he bail ?

With the talent they have, he may stay around either way. Too good to pass up the opportunity to have those contracts under his version of the promotion.

[theMOESIAH]

According to PWInsider.com, previously sealed court documents pertaining to the lawsuit filed by Billy Corgan against TNA have been unsealed and one of the documents is the temporary restraining order filed by Corgan against TNA, TNA’s parent company Impact Ventures LLC, Dixie Carter, her husband Serg Salinas, and TNA Chief Financial Officer Dean Broadhead, otherwise known as the defendants in the case. The document reveals Corgan’s claim that TNA is insolvent. In legal jargon, a person or persons is considered to be insolvent when the party has ceased to pay its debts in the ordinary course of business, or cannot pay its debts as they become due, or is insolvent within the meaning of the Bankruptcy Code.


The court order provides that Billy Corgan is likely to prevail “on the merits of its claims because Impact Ventures LLC is insolvent, and, as a result, plaintiff is entitled to exercise controlling voting rights in the company.”


Furthermore, because TNA is insolvent, TNA and Impact Ventures cannot make any business decisions without the approval of Billy Corgan.

With regards to the TNA tape library, neither side of the case, the plaintiff Corgan, nor the defendants, can sell the library until ordered by the court. While this might not benefit TNA from a financial standpoint, it also prevents Corgan from selling his TNA claim to a third party.

Read more at www.wrestlezone.com/news/767143-billy-corgan-says-tna-wrestling-is-insolvent-corgan-now-in-control-of-approving-new-business-deals-what-this-means-for-the-tape-library#BtiCm1oBtPDisGR0.99

[vampiroporvida]

This looks to be great news for Billy getting TNA, if it all holds up.

[theMOESIAH]

According to PWInsider.com, earlier this afternoon in a Nashville Chancery Court, TNA filed a legal response to Billy Corgan’s lawsuit. The response documents remain sealed, but the report noted 12 pieces of material were submitted to support a defense argument TNA is making regarding the proof of solvency, which was originally published in a 2007 article in The Business Lawyer. As noted, Billy Corgan previously claimed TNA is insolvent, which in legal jargon means a person or persons has ceased to pay its debts in the ordinary course of business, or cannot pay its debts as they become due, or is insolvent within the meaning of the Bankruptcy Code. TNA will attempt to use the 2007 Business Lawyer article about proof of solvency as precedent in the case, as Dixie Carter is claiming the company is not insolvent.


Furthermore, PWInsider is reporting Billy Corgan’s lawyers will file a redacted version of their lawsuit tomorrow at around 3pm. The lawsuit will be redacted as Corgan feels there are details in the lawsuit that should not be made public, as they could be harmful to TNA if discovered by competitors.


It’s being said any chance of a settlement in the case will hinge on what transpires in the next twenty-four hours, to prevent Corgan’s allegations against TNA from becoming public record.

Read more at www.wrestlezone.com/news/767527-tna-files-legal-response-to-billy-corgan#triAGTmfV5KSuZYH.99

[powerfred3k]

Oct 22, 2016 19:41:40 GMT -5 vampiroporvida said:

This looks to be great news for Billy getting TNA, if it all holds up.

Jesus Billy Dixie suckered you into putting money into a sinking boat.

Just think how much easier your life would be if you never got involved...

[East Coast]

so apparently Dixie was trying to sell to WWE right under Billy Corgans nose.

i don't know how i feel. On one hand......i'd love to see some more TNA guys in WWE....and i'd love to get the old TNA stuff on the Network

on the other hand WWE would def ruin some guys...like Broken Matt, and i don't want them upping the price of the Network on me

and thirdly.....TNA's actually been pretty good for the last 2 years, and im ok w/ it continuing if Billy can keep course and right the ship a little.

[Cameron Stone]

www.pwinsider.com/article/105592/exclusive-details-why-billy-corgan-is-suing-tna-what-he-is-seeking-how-dixie-carter-may-have-forfeited-her-ownership-of-the-company-how-close-tna-came-to-closing-this-past-summer-and-much-more.html?p=1

If any of this is indeed true, and Corgan has the evidence to support it, Dixie is screwed

[deskjet]

KILL IT ALREADY!!!

[The Natural Eddy Valintino]

I read that article. Like its been said, Dixies f***ed

[powerfred3k]

So if the judge allows the injunction does that mean tna is dead ?

[theMOESIAH]

So from what I've gotten from this is that Dixie agreed to give Billy Corgan the power to fire or push aside anyone he wants, including herself. She didn't realize what she had done until AFTER she agreed to that so she went to FITE begging for money. If that doesn't show everyone in that company that she is incompetent (not to mention literally everything else she has done), I don't know what will. If they value their jobs, every single person in that company should rally around Billy.

[BSR]

First off. I wish a court would determine that Dixie has to pay everyone she promised money to out of her own pocket.

Secondly. I hope that not even McDonald's will hire her dumb ing ass once this is over.