TNA Facing Another Lawsuit

If TNA were a person, it would have already cuddled up into A fetal position next to one its six [...]

By Matthew Aguilar

If TNA were a person, it would have already cuddled up into A fetal position next to one its six turnbuckles. Unfortunately for TNA, Dixie Carter, and Impact Wrestling, that isn't really possible, and the rain just seems to keep on pouring.

Another company has thrown their hat into the lawsuit ring, courtesy of the Wrestling Observer. Bankdirect Capital Finance, LLC is suing TNA in an Illinois Cook County Circuit Court for $207,612.29, which is just the base number, as they are also seeking additional late charges, interest, and attorney fees (via CageSideSeats).

The suit says that Bankdirect loaned TNA Entertainment LLC more than $400,000 to help pay for insurance premiums during November of 2015. The agreement was that TNA would pay that back in ten monthly payments of around $41,000. Suffice it to say that did not happen, and Bankdirect is now suing for the remaining amount, though it turns out that TNA actually owes the company more than the $207,612.29 they are asking for.

This is in addition to the state of Tennesee recently filing a tax lien against the company regarding unpaid debts from their previous company name and an ongoing lawsuit from Eric Bishoff. That lawsuit stems from Bischoff-Hervey Entertainment claiming that TNA did not pay them for their production work several years ago. Not only that, the president of TNA Billy Corgan, who is also attempting to buy the company for himself, is also suing TNA for an unpaid loan.

The lawsuit isn't just for unpaid money, though, as Corgan is still pretty miffed that TNA opened up negotiations with WWE in regards to their tape library. Even though that fell through, Corgan wants all the documentation regarding those negotiations. More importantly, he also wants Dixie Carter and TNA Entertainment to admit they defaulted on the loan and are hemorrhaging money, which would open the door for him to take a more concrete hold on the company.

All of this comes at the same time that TNA received some much-needed cash infusion courtesy of Anthem Entertainment. That was seen as a good sign by some and a band aid by most. Either way, the infighting and grabs for power need to end soon, as the company most likely can't take much more.

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