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.