WWE | INDY | VISUAL | POLLS | COLUMNS | DISCUSS | FACEBOOK | YOUTUBE | TWITTER
 
 
 


  NoDQ.com > Indy > Update on TNA/Billy Corgan Situation
Posted by Aaron Rift on 10/21/2016 at 10:54 PM

The Court documents in Billy Corgan’s lawsuit against TNA and Impact Ventures LLC, Dixie Carter, her husband Serg Salinas, and TNA Chief Financial Officer Dean Broadhead were unsealed today.

The temporary retraining order document against the defendants revealed that Corgan claims that Impact Ventures is “insolvent.”

The order provides that 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.”

Additionally, the order dictates that TNA and Impact Ventures are prohibited from taking any action without Corgan’s consent. Essentially, this means that TNA cannot enter into any new business deals without Corgan’s approval.

Also, neither side of the litigation may sell TNA or its tape library until ordered by the Court. This development may put TNA in a difficult position; however, it also prevents Corgan from selling his claim to TNA to a third party.







Aaron Rift's Plug
  • NoDQ.com - Online Entertainment

    Latest Indy
  • Click here to discuss this post
  • Are The Hardys Leaving Impact Wrestling?
  • TNA Name Being Dropped; Knockout Departure
  • Update On Jarrett/Dutch Being Back In TNA
  • Wrong Episode Of Impact Wrestling Aired
  • Impact Wrestling Spoilers For 2/16/17
  • Perry Saturn Needs Your Help
  • Latest On Drew Galloway's TNA Status
  • Daniels Comments On Retirement
  • Impact Wrestling Spoilers For 2/9/17
  • Impact Wrestling Spoilers For 2/2/17
  •  


     
     
    Thank you for visiting NoDQ.com! We will have live PPV coverage of WWE Royal Rumble 2017 on January 29th starting at 6:00 PM ET. Please spread the word!

    You'll find information on this fan-created website about the following: WWE News, WWE Rumors, WWE Spoilers, WWE Results, TNA News, TNA Rumors, TNA Spoilers, TNA Results, John Cena, The Rock, Dean Ambrose, Seth Rollins, Roman Reigns, Vince McMahon, Sheamus, Impact Wrestling, Austin Aries, CM Punk, Bobby Roode, Nakamura, AJ Styles, Kevin Owens, Jeff Hardy, Hulk Hogan, Cesaro, Daniel Bryan, Sami Zayn, Dixie Carter, Paul Heyman, Wrestling video games, WWE Divas, Money in the Bank, Hell in a Cell, TNA Knockouts, Wrestlemania, Summerslam, Survivor Series, Royal Rumble, PPV Results, and much more!

    Original content Copyright 2017 NoDQ.com Web Publishing. [ Legal Notice | Privacy Policy ]