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The Nashville Chancery Court is slated to unseal a redacted version of the lawsuit TNA President Billy Corgan filed on 10/12 against TNA Entertainment LLC, its parent company Impact Ventures LLC, Dixie Carter, Dean Broadhead and Serg Salinas.
The lawsuit, based on details culled from documents that have already been unsealed, charges that TNA, as a company, is insolvent and that Corgan, based on the agreement he signed with Carter when he invested, has the right to take over the company and replace member of management. Carter has denied that the company is insolvent in court documents, stating that the company's assets are worth more than their current debts.
A number of lawsuits regarding money owed by TNA have been filed in recent months, including one by their former production company Audience of One Productions as well as by American Express and others.
As soon as we have additional details, we will report.
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