-

Billy Corgan loses temporary restraining order case against TNA

The Tennessean investigative reporter Nate Rau reported just minutes ago that TNA President Billy Corgan lost his temporary restraining order case against TNA as Chancellor Ellen Hobbs Lyle sided with TNA.

“Judge strikes down Corgan’s request for a temporary restraining order; Big win for Dixie and TNA,” he wrote on Twitter.

Corgan was trying to get an injunction against the company and its various stakeholders to prevent them from selling the company to other individuals without his approval. He is owed over a million dollars that he loaned to TNA and while TNA and Anthem Sports & Entertainment have offered to pay him out, he refused, and instead wanted Dixie Carter’s 92.5% share of the company after he said that TNA is insolvent.

TNA has until tomorrow, November 1, to repay Billy Corgan’s three loans as per their original agreement.

During the case last Wednesday, TNA attorney Travis Parham painted Corgan as a loan shark and whose sole objective was to oust Dixie Carter from power at all costs.

With this temporary restraining order lifted, Dixie Carter is free to sell TNA to whoever she wants without Corgan’s approval. There seems to be an agreement already between Carter, Aroluxe, and Anthem Sports & Entertainment where Anthem will 85% control, Aroluxe gets 10%, and Dixie remains on board with a 5% share.

Despite the outcome of this temporary restraining order, the separate lawsuit which was filed will still go forward so the fight between Corgan and TNA is not even close to being finished.

Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

King of the Ring special to air on FOX this Sunday

In anticipation of the upcoming King of the Ring tournament that is set to start next month, WWE will...

5 tips on how to choose an online casino

Online casinos are becoming more and more popular every day. And how could they not? They have beaten their...

Full Gear 2021 coming to Target Center in Minneapolis

This year's AEW Full Gear pay-per-view will be taking place from the Target Center in Minneapolis, Minnesota on a...
sports betting site betway