News From Billy Corgan’s Lawyer At TNA Hearing: WWE Lowers Offer To Buy TNA, Dixie’s Demeanor, More

As noted, there is a hearing this afternoon between Billy Corgan and TNA at the Chancery Court in Nashville, TN. Nate Rau of The Tennessean is at the hearing, and live tweeted ( @tnnaterau ) the following from the hearing from Corgan’s side. TNA is up next, and we will have details from them shortly in a separate post:

* Dixie Carter is at the hearing, but Corgan isn’t. Corgan is being represented by his attorney Scott Sims.

Here is some background on today’s hearing. https://t.co/U8ffgjuqLL

— Nate Rau (@tnnaterau) October 26, 2016

* Sims began and said that Corgan saved the company on three separate occasions, but TNA did not hold up their end of the deal.

* Corgan and Carter entered a pledge agreement that included an insolvency clause, and proving that is a crucial part of the lawsuit.

Sims says Corgan and Carter entered pledge agreement that included insolvency cause. Proving this is crucial part of lawsuit.

— Nate Rau (@tnnaterau) October 26, 2016

* Sims stated that TNA misled Corgan about their debts. Corgan was named President of the company, but was excluded from management decision.

* Sims said that there is no doubt that TNA is insolvent.

“We basically have a pledge with a voting proxy,” Sims says. TNA argues that a transfer of ownership to Corgan was never approved.

— Nate Rau (@tnnaterau) October 26, 2016

Chancellor asking Sims about Corgans desire to remove managers. “Does that fit circumstance of a proxy?” She’s pushing back at key argument.

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