Earlier today in a Tennessee courthouse, Judge Ellen Hobbs Lyle ruled against Billy Corgan and he has lost his fight against Dixie Carter for control of TNA Wrestling.
The judge found that Corgan failed to prove that the company was insolvent, meaning it owes significantly more money to creditors, contractors and in business taxes, than it is bringing in and under Tennessee law, the agreement the two sides had was not enforceable.
Here’s a video from the court proceedings today:
The details of this story are still coming in. When we have more, we will be sure to let you know.
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