Billy Corgan Reportedly Loses Legal Battle With TNA Wrestling

Billy Corgan

(Classic Rock) Smashing Pumpkins' mastermind Billy Corgan has reportedly lost his legal battle to take over TNA Wrestling - the company which named him president in August.

He's been working with the wrestling firm since last year, first as a creative producer, and replaced Carter as president in the summer. Corgan gave the cash-strapped company three loans over the past few months - with the last payment reportedly given on the condition that he'd be permitted to take over the firm if it became "insolvent."

His lawsuit argued that this was what happened - but the judge rejected the claims because they "did not meet burden of proof." The judge did, however, order that Corgan's loans be repaid this week. Read more here.

Classic Rock Magazine is an official news provider for antiMusic.com.
Copyright Classic Rock Magazine- Excerpted here with permission.


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