Latest Articles

Nashville Chancery Court Strikes Down Billy Corgan’s Temporary Injunction Against Impact Ventures

News has broken via Nate Rau of the Tennessean on Twitter and through a report on PWInsider.com that a decision has been rendered in the hearing on Billy Corgan’s injunction against TNA Wrestling and Impact Ventures.  The court has denied Corgan’s request for an injunction, as well as dissolved the temporary restraining order against the company.

Details are sketchy at this point in time, but what this immediately represents is that Corgan cannot gain control of TNA.  This will permit Dixie Carter, Impact Ventures, LLC, and others in the current management team to move forward with any decisions as they see fit without having to have the approval of Corgan first.  According to the PWI report, this does not end the suit that Corgan has filed against the company.

Corgan is still owed $1.8 million from loans he extended at various times to keep the company solvent to do taping earlier this year.  Corgan does apparently have the option to convert that debt into a 36% ownership stake in the organization.

More as it becomes available.

About Bill Wentz (1484 Articles)
Ring-Rap.com's Senior Columnist, writing with the site since 2009 and a lifelong wrestling fan dating all the way back to the early Wrestlemania years. As a strongly opinionated fan, you can get my thoughts regularly on Ring Rap Audio and Around the Ring on Thursdays, as well as in "Wentz's Blog" in print. Look for my live show reports as well for MMA, WWE, ROH, and more. Outside of wrestling, I have a strong obsession with trucks, winning awards statewide with a truck dubbed the "Brahma Bull Edition." Interact with me on Twitter @Bill_SoonerFan or by email at bwentz@ring-rap.com

1 Trackback / Pingback

  1. More Details on Impact Ventures/Billy Corgan Decision, Corgan Comments on Ruling – Ring-Rap.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: