Billy Corgan’s Injunction Against Impact Wrestling Gets Thrown Out

An injunction and restraining order filed by the Smashing Pumpkins' front-man against Impact Wrestling has been thrown out by a Tennessee court.

Billy Corgan, a long-time wrestling fan, served as a producer for Impact Wrestling since 2015 before being named the company's president in August. Prior to Corgan's promotion, the primary owner, Dixie Carter, served as the company's president and was regularly blamed for the company's decline over the past several years. While Corgan came in with plans to help the company reclaim its place as a potential rival to WWE, rumors persisted that Dixie Carter was looking to sell off the company to recoup the multi-million dollar losses they've suffered as of late. While WWE reportedly was in contact with Carter in an attempt to purchase the Impact/TNA tape library to be included on the WWE Network, Corgan began steps to become majority owner of the company in order to rebrand it.

Over the past few weeks, Impact Wrestling has been served with several lawsuits for money owed and unpaid taxes. One of those suits came from Corgan himself, citing nearly $2 million owed from loans he made to the company, as well as filing a restraining order that would prevent Carter and Impact Wrestling from making any business decisions without him. The Nashville Chancery Court that is hearing the case threw out Corgan's injunction, allowing Impact to continue business without him.

Cageside Seats reports that the new plan for Impact is to have a new President appointed from Aroluxe, a former production company for Impact and the second majority owner behind Carter, while Carter is still looking to sell off her family's stake in the company. And while Corgan's injunction may have been thrown out, the company still owes him $1.8 million, which Corgan could theoretically accept payment of in the form of a bigger ownership stake in the company. Corgan tweeted a brief statement about the case, saying he wasn't disappointed in the verdict since the case allowed business practices he's disagreed with to be exposed.