Friday, October 28, 2016

Suits...

SO....anybody wanna get down and dirty into a few of the lawsuit details?

Here's what Billy Corgan has claimed:

He had no idea the kind of financial straits TNA was in when he was first courted by Dixie as a perspective buyer, but jumped in knowing that the company was in the forefront on the wrestling scene. As a minority shareholder, he was made the President of the company and then was barred from his day to day duties by another minority shareholder. That part is profoundly confusing, admittedly, but let's press on. AND this part is the one that throws me......Dixie's share in the company was put on the line to cover any expenses owed IF TNA was not able to pay back the losses in investments covered by Corgan himself.

All this to say that Corgan wants ownership and majority control of the company to try and right the ship, provided that there is a way to do so. Backstage, more people than not are wanting to see this side of the scenario triumph, with Dixie finally leaving the company for good.

NOW....Dixie's lawyers are contending that Corgan knowingly walked into this nightmare and is now preying on a company that has few assets with which to pay back whatever is owed. They claim this as a case of "predatory lending at its worst." They claim that Corgan's loaning of liquid funds were simply a way for Corgan to gain higher ownership stake that Dixie allegedly agreed to pay up as an option for failing to repay the loan.

My take in all of this?

Dixie has written out so many bad checks on TNA's behalf and can do no worse than she already has now that the cat is out of the bag. The longer this drags out and the more Dixie comes out swinging on her way out, the more desperate she appears and that, folks, is something that she has been supposedly trying to avoid.

I'm done making arguments for you, Dixie. You're on your own. Your promises have landed you right here, in front of the world and now that the throne is on the line, you may want to back down since the straits this company is in now requires more money to repay than you have proven you can handle. The game is over and it's time to move forward with more experienced players who can handle the responsibility.




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