Want more wrestling news, rumors, and results? Be sure to visit PWInsider.com and PWInsiderXtra.com.
The next 24 hours should prove to be very interesting in the lawsuit Billy Corgan has filed against TNA, Dixie Carters and others.
Tomorrow, 10/25 Corgan's attorneys will be allowed to file a redacted version of their lawsuit to protect certain materials from being brought to public light due to what Corgan has claimed is "sensitive" information that could fall into the hands of competitors. That version will be released to the public sometime around 3 PM Central time.
One would assume that if a settlement is to come between the two sides, it will happen before that redacted lawsuit is unsealed as the second it is, the allegations will become public record, something TNA obviously does not want to happen as one would assume, they wouldn't want to be tried in the court of public opinion. So, if there is going to be a settlement, it would have to come before those documents are unsealed.
Meanwhile, TNA filed it's response to Corgan's allegations and his restraining order against the company this afternoon before the Nashville Chancery Court, but most of those documents are currently sealed. We can confirm that there were 12 pieces of material used to support TNA's arguments between material derived from The Business Lawyer (an article titled "Proving Solvency: Defending Preference and Fraudulent Transfer Litigation) and previous court precedents regarding legal issues.
Corgan filed a lawsuit on 10/12, charging that the company is insolvent and that based on an agreement he and TNA entered into, that gives him the right to gain control and replace current members of TNA management. Dixie Carter has responded, arguing that the company is not insolvent as its assets are worth more than money it currently owes. There are a number of other lawsuits that have been filed against TNA currently.
If you enjoy PWInsider.com you can check out the AD-FREE PWInsider Elite section, which features exclusive audio updates, news, our critically acclaimed podcasts, interviews and more by clicking here!
Bang On Casino
