Favorites Edit

TNA News: TNA's woes continue with another lawsuit

Gokul Nair
3.19K   //    16 Oct 2016, 08:21 IST
Will they recover from this?

TNA’s ride to hell continues as apparently another lawsuit has been filed against them. Dave Meltzer reported on Wrestling Observer Radio that the lawsuit has been filed by Audience Of One Productions, LLC who produced the 2015 Bound for Glory PPV and a couple of television tapings as well. 

The reason behind the lawsuit is apparently regarding payment as they initially got paid but never got the rest. They are seeking around $300,000 in money owed along with the interest. 

The lawsuit mentions that the debt that TNA owes is on file with the Tennessee Secretary Of State. In their database, there is a filing on the 30th of September, the Friday before Bound For Glory from MCC Acquisition, Canada which indicates that they funded the pay-per-view as well as the television tapings.

MCC Acquisition is related to Anthem Sports and Entertainment Corp which is one of the parent companies of The Fight Network which also is owed money by TNA.

According to the Tennessean, Anthem owns some of the rights to TNA’s video archives and apparently there was a UCC filing this past Tuesday, the day before Corgan filed his lawsuit which listed Dixie as the debtor and Corgan as the creditor. 

According to Wikipedia the UCC form “is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor."

Apart from that Bixenspan also reported that the State of Tennessee has issued a tax lien against TNA for unpaid taxes on September 8th. This would result in the State of Tennessee seizing TNA property if the issue is not resolved.

It is also noted that even if someone were to buy the company, Dixie may have to take a lower sale price so that she can pay off the lien. 

After the lawsuit filed by Corgan, Melter noted that that Corgan had funded several television tapings earlier this year with the belief that he would purchase the company but after Dixie refused to sell it, He wanted his money back but as they didn’t have the money to pay him back, the lawsuit was filed.

According to Meltzer there is fraud involved as well and also stated that “[Corgan] was not being told of certain financial things and information was withheld by Dixie Carter”

The lawsuit may be unsealed next week. As noted, there will be a preliminary hearing scheduled for Thursday in Nashville.

The problems for TNA seem to rise day by day as last night’s Impact Wrestling was almost pulled off by Pop TV due to a musical rights issue. With problems all over her, It might be the time for Dixie Carter to let TNA go for her own good.

For latest WWE News, spoilers and rumours visit our Sportskeeda WWE section.

Topics you might be interested in:
Gokul Nair
Fetching more content...