Pro Wrestling Sheet has learned Billy Corgan has lost his fight against TNA Wrestling for control of the company, but the war isn’t over … this according to recently filed documents.
The judge ruled Monday saying Billy was unable to prove the company had become insolvent and the pledge agreement he made with TNA was not enforceable under Tennessee law.
However, the lawsuit will continue on. And if Billy is able to present more evidence moving forward, the outcome of the lawsuit could change in his favor.
The court also ruled saying Dixie keeping Billy out of the loop on discussions with WWE doesn’t necessarily mean she breached their contract — explaining, “The parties have submitted competing and disputed versions of these facts such that the proof is not clear.”
Billy released a statement saying, “For those asking, I’m in no way disappointed in the judges ruling regarding TNA. Rather, I’m grateful the judge considered the case. It’s important to note is these proceedings have brought forth facts which illuminate business practices I have fought against for a reason. And I suggest that a careful reading on the judge’s ruling supports there can be no claim of victory by anyone in a position of authority.”
Read the full ruling below.