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Post by jimsteel on Oct 13, 2016 17:36:55 GMT -5
TNA President Billy Corgan has reportedly filed a lawsuit against Impact Wrestling, the parent company Impact Ventures, LLC, TNA Chief Financial Official Dean Broadhead, TNA Chairwoman Dixie Carter, as well as Dixie's husband Serg Salias. According to PWInsider, Corgan filed the suit this past Wednesday in the Chancery Court of Nashville Tennessee.
TNA President Billy Corgan filed a lawsuit against Impact Wrestling, their parent company Impact Ventures LLC, TNA Chief Financial Officer Dean Broadhead, TNA Chairperson Dixie Carter, and even Dixie Carter's husband Serg Salias. The suit was filed in Chancery Court in Nashville Tennessee this past Wednesday.
We've now learned that a temporary restraining order was approved, with Corgan filing a bond today to support it. A hearing has been scheduled for next Friday October 20th at 11:30AM for a temporary injunction. Corgan has requested a six-person jury to decide the outcome of the case.
As of now, filings for he lawsuit have been sealed
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Post by Crimson Cross on Oct 13, 2016 17:56:16 GMT -5
Now add the Production Company in making a lawsuit toward TNA, below is from 411mania...
Larry wasn’t kidding when he told people to buckle up, because it’s already a pretty rough ride. PWInsider reports that in addition to the lawsuit just filed by Billy Corgan, TNA’s former production company is suing as well.
The site reports that Audience of One Productions filed suit against Impact Ventures LLC, TNA minority owner Aroluxe LLC, Dean Broadhead and Ronald Harris on September 27th. The lawsuit is for breach of contract, fraudulent inducement on the behalf of Harris and Broadhead, torturous interference on behalf of Aroluxe and for violating Virginia codes. AO1 is seeking $223,000 plus interests and post-judgment costs.
According to the lawsuit, AO1 entered into discussions with TNA in 2015 about a potential long-term agreement in which AO1 would provide production work including “audio/visual and broadcasting work, lighting, set construction and breakdown, as well as retention and payment of audience ‘wranglers’ (personnel who would patrol the crowd and try to engage audience members with the event), among other things.” The suit says that before that point the Harris brothers were overseeing production and “were not providing sufficiently high-quality production work to TNA, despite their industry experience.”
AO1 began working with TNA on the Universal Studios tapings and per the suit, “Broadhead and Ron Harris consistently represented to AOl that these two events were the first of many and that TNA and AOl were on the verge of a long and fruitful relationship.” They produced Bound For Glory for the company and billed them in October $223,000 for the services rendered; the month after, Broadhead emailed them saying that TNA was at work to finalize a new broadcast deal that would put then in 80 million homes and said, “We are planning to go back into Universal Studios in 2016 and get back on the right track with our production. Please, please hang in there with us. We will come out of these difficult times in a much better position as a company and a partner.” According to A01, the email was sent to keep them from persuing more aggressive collection attempts.
A01 then sent a second invoice in November with a 1.5% late fee, after which which Ron Harris asked for an itimized invoice. In January they lowered the amount owed by about $29,000 as Dean Broadhead directly paid some of the independent contractors. AO1 claims that TNA did so in order to make sure those contractors would continue to work for TNA after ties were cut. Broadhead them began talking with them about a payment plan, agreeing that the money would be paid in monthly installments from March 2016 through August 2016. The suit states, “Upon information and belief, TNA’s financial troubles had become increasingly severe by this time. Yet, here again, Broadhead, who would have been intimately familiar with those financial troubles, failed to share any relevant information with AOl, which, for its part, continued to negotiate in good faith with TNA and Broadhead over repayment terms for the BFG Event.”
In March, per AO1, “Aroluxe provided some form of financing to TNA which, upon information and belief, was sufficient to allow TNA to continue operating for the foreseeable future. This financing was secured with a lien on all or nearly all of TNA’s assets, including, but not limited to, all accounts receivable as well as all fixtures, inventory, and equipment.” The suit alleges that the financing gave Aroluxe, and this the Harris brothers, “considerable incentive to oversee and coordinate TNA’s financial affairs going forward.”
On March 18th, TNA was supposed to wire the first payment Broadhead told them that the money couldn’t be wired. it was later received via FedEx and AO1 says, “Upon information and belief, this failure to make a timely wire transfer to AOl resulted from intervention by Aroluxe and/or Ron Harris who, at this point, had every incentive to disrupt and delay payments to AOl so that other creditors could be paid sooner.”
TNA has not responded to invoices regarding money owed to A01 since.
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Post by TTX on Oct 13, 2016 18:41:49 GMT -5
Not looking good at all for TNA. I feel sorry for the wrestlers most of all.
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Post by ajcostello on Oct 13, 2016 18:52:41 GMT -5
This is terrible.
I mean, as little as I actually enjoy TNA's current product, I like that they exist as it gives me something else that isn't WWE to watch when I feel like it.
It really sucks that all those wrestlers (many of whom I like) might end up out of work and off my TV screen.
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Post by executioner on Oct 14, 2016 8:37:21 GMT -5
FINALLY TNA gets interesting!
In all seriousness, I feel bad for the wrestlers. They deserved much better than the mess created by the front office.
I do not feel one bit bad for Dixie, Corgan, John G. or the rest of the front office people (and anytime we get less of Josh Matthews and his bush league announcing--well we all win).
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Post by jimsteel on Oct 14, 2016 15:38:09 GMT -5
Things keep getting worse for TNA
According to Wrestling Observer Radio, last night's episode of TNA Impact was almost pulled due to a music rights problem. The company was able to edit DJZ and Mike Bennett's entrance themes from the show prior to air, and the program was allowed to continue. It should be noted that this was not related to the lawsuit filed by Billy Corgan earlier this week.
Another real problem on the horizon for Impact Ventures, LLC is related to the ongoing pay issues. We've reported for years now that TNA has had trouble paying their talents, and apparently this weekend is a big pay period for the company. The story is that they were given money to pay for the recent Impact Wrestling tapings but there is no confirmation that they were given enough to pay talents. This would cause a breach of contracts, which would then make everyone a free agent. Dave Meltzer adds that some talents are prepared to declare themselves free agents and begin negotiating with other companies next week if they are not paid.
State of Tennessee filed a Tax Lien on the TNA Company
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Post by Crimson Cross on Oct 14, 2016 16:15:28 GMT -5
It's all coming out now and seeing that they owe back taxes is another nail in the coffin, the company needs to fold and if Corgan wants to restart, he should and just forget TNA all together...
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Post by TTX on Oct 14, 2016 17:50:25 GMT -5
Even when WCW and ECW were dying, it didn't seem to be going as bad as this is.
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Post by Kamala on Oct 14, 2016 20:37:11 GMT -5
Dixie Carter just sucks at everything she touches.
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Post by jimsteel on Oct 14, 2016 23:36:49 GMT -5
No live shows scheduled for TNA for the rest of the year past the shows they already taped so doesn't look good for TNA. Rumored of a show at the Hardy Compound but nothing official as of now
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