The Wrestling Observer is reporting that BankDirect Capital Finance filed a lawsuit against TNA on September 29, asking for the company to return the $207,612.29 that it owes them. The lawsuit was filed in the Circuit Court in Cook County, Illinois.
The case dates back to November 30, 2015 when TNA and BankDirect Capital Finance entered into an agreement where they would loan $400,146 to TNA to cover insurance premiums. TNA agreed to pay the sum in 10-monthly installments of $41,032.45 each.
Up until the end of September 2016, TNA paid only $192,534 out of that sum, leaving $207,612 in an unpaid balance. That means that TNA paid less than half of the sum in a 12-month period when they had to pay all of it in 10 months.
BankDirect Capital Finance is a division of Texas Capital Bank, N.A., a diversified financial services business. It’s based in Lake Forest, Illinois.
This is the fourth lawsuit TNA is facing in a span of a few months, with Audience of One, Billy Corgan, and American Express having filed lawsuits already against them.