Documents In Billy Corgan’s Lawsuit Against TNA To Be Unsealed Today

PWInsider.com is reporting that sealed documents in Billy Corgan’s lawsuit against TNA will be unsealed and made public today. The Nashville Chancery Court will be the ones to release the redacted documents later today.

Based on documents that have already been released it appears that Corgan is suing TNA Entertainment LLC, its parent company Impact Ventures LLC, Dixie Carter, Dean Broadhead and Serg Salinas claiming that TNA is insolvent. Essentially meaning that it’s debts outweigh it’s actual worth and that they are now unable to pay back the people they owe money to.

Corgan is claiming that based on the agreement he signed with TNA when he invested since the company is now insolvent he should have the right to take over the company and replace members of management. Dixie Carter has claimed that TNA is not insolvent and has stated that the company’s assets are worth more than the debt they are in.

In recent months lawsuits have been filed by entities like American Express and production company Audience of One Productions claiming TNA owes them money.

We will have more on this story when the documents are unsealed today.