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More On TNA Court Ruling, TNA Star Takes Shot At Ruling, Who Will Be In Charge, Video From Hearing
- Updated: October 31, 2016
As noted, Chancellor Ellen Hobbs Lyle today ruled against Billy Corgan’s request for a temporary injunction against TNA, which would have prevented the company from making major business decisions or sell the company without Corgan being involved in the decision. TNA can proceed to run the company without Corgan being involved.
Corgan will be paid back for the loans he made to the company, which are due tomorrow, November 1st. Corgan is effectively out of the picture, although he could still move forward with his lawsuit. Corgan had made three loans to the company, with the third one having a provision that would have granted him Carter’s 92.5% voting rights. The judge ruled that the provision was unenforceable.
The company has until tomorrow, Tuesday, November 1st to repay Corgan’s $1.8 million loan. Anthem Sports & Entertainment Corp., the parent company of the Fight Network, had previously agreed to repay Corgan, however were …
