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Billy Corgan’s Lawsuit Against TNA Is Apparently Still Moving Forward
- Updated: November 1, 2016
Source: The Tennessean
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 loan repayment of $1.8 million is due tomorrow, Tuesday, November 1st. 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. If TNA is unable to repay the loan by tomorrow, …
