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More From TNA Lawsuit: Talent Not Being Paid, Billy Corgan Claims To Be Misled, Postponed Tapings
- Updated: October 26, 2016
Source: PWInsider
As noted, there is a hearing this afternoon between Billy Corgan and TNA at the Chancery Court in Nashville, TN. Several documents were filed today prior to the hearing, below are some highlights via PWInsider:
* In a document explaining why he needs a restraining order against TNA, Billy Corgan claims that TNA is insolvent, meaning that they are unable to pay their debts and their liabilities exceed the value of its assets, because the company’s balance sheet shows their debts to be almost ten times the assets.
* Corgan said that the defendants hid how much in debt they were to get him to invest in them. When he first invested in the company this past June he had a senior secured promissory note, and did not know that Aroluxe and Anthem Media Sports and Entertainment had similar notes, so they would be …
