Attorney Scott Sims, who represented Billy Corgan in his lawsuit against TNA and three executives, provided a statement to The Tennessean that suggests the battle has just begun. “Mr. Corgan understands that temporary injunctive relief is an extraordinary remedy and, due to the nature of the proceedings, he did not have full access to information in the defendants’ possession that bears on the issues in this case,” Sims said. “Mr. Corgan looks forward to the opportunity to conduct full discovery into these matters and present his case in its entirety to the Court at a later date.” Read more via Nate Rau’s piece at Tennessean.com
Powell’s POV: The story notes that TNA’s attorney Travis Parham declined to comment. Corgan’s loan repayment is due on Tuesday, though he also has the option to convert the money into 36 percent equity in the company. Anthem Sports & Entertainment stated in a press release recently that they are willing to reimburse Corgan for the loan. Based on the Sims statement, it appears that Corgan plans to move forward with legal action or at least he’s giving the impression that he does. Corgan released a statement via Twitter earlier today that can be found on the main page.
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