TSR NuTSR Declares Bankruptcy

NuTSR, owned by Justin LaNasa, has filed for Chapter 7 bankruptcy, which will liquidate the company's assets.

NuTSR's gross revenue so far for 2023 is $621.93 according to the documents filed in North Carolina. This is balanced against total liabilities of just over $384,000.

The company made the news over the last couple of years, emerging in 2020 when then-owners Justin LaNasa and Stephen Dinehart registered the defunct TSR trademarks and launched the new venture with the involvement of Ernie Gygax, one of D&D co-creator Gary Gygax's sons. Over the following months, NuTSR generated controversy after controversy, attempted to sue D&D publishers Wizards of the Coast via a crowdfunding effort, and in March 2022 eventually found itself on the receiving end of a lawsuit from them.

TSR - The Full & Glorious History of NuTSR

Because the Saga of TSR3 has been ongoing for a while, with many landmarks, I thought I'd do a quick timeline for those who haven't had the time (or, frankly, inclination) to keep up with the whole palaver. As multiple entities refer to themselves as TSR, I will use the nomenclature (1), (2)...

www.enworld.org

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As a consequence of the bankruptcy petition the current lawsuit between WotC and NuTSR is on hold, postponed until March 2024. NuTSR's website is still active.

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[Ralif Redhammer]

If your trying to hide assets, filing ch. 7 is the absolute WORST way to go about it.

The powers of the chapter 7 trustee (to probe into every aspect of your business and beyond) are extremely broad. Plus you give interested parties (like, say, WoTC) easy means to request information that they would otherwise have a difficult time obtaining.

I'm not really sure WHAT his endgame is here.

Generally, the reason to file a corporate 7 is to announce loudly that you are closing the business. To provide a centralized way to deal with all the creditors circling and trying to get at the money/assets. Usually when the number of lawsuits, their location etc. are just overwhelming.

But here, the LaNassa is by far the biggest creditor, there's really only one suit at issue - and the assets listed are listed as a "net value" of $0. This really doesn't seem to need a chapter 7.

Will be fascinating to see how this develops.

If it's the worst way to go about it, that sounds right up LaNasa's alley, to be honest. But I really have no idea if this is a shell game, or if he really has run right into the consequences of his own actions.

TSR has no assets; they themselves said that in the filing. The only non-zero value they mention is their overdrawn bank account.

I'm kind of worried that they might end up selling some of the museum's collection out of desperation. If he has his way, he'll sell the floorboards of the museum house just to save his ass.

Selling off the DHSM collection piece-by-piece seems pretty likely. However, selling the entire operation to someone that isn't a terrible person wouldn't be a bad turn of events. I certainly would stop by it next time I'm at Gary Con if it was under better ownership.

 

[Umbran]

I'm kind of worried that they might end up selling some of the museum's collection out of desperation. If he has his way, he'll sell the floorboards of the museum house just to save his ass.

Just for giggles - the museum house has a zillow estimated value of $250K or so.

 

[Wizard Tower Games]

The amount of email, and regular mail and calls from other parties attorney's (cough, cough)... That Trustee is getting must be massive.

 

[Gradine]

 

[CleverNickName]

I remember him saying something about being awake and going broke. Is that what happened?

 

[Sacrosanct]

I remember him saying something about being awake and going broke. Is that what happened?

Apparently this is so embarrassing to the "go woke go broke" crowd that any mention of this is not only being locked, it's being deleted off of the boards. They don't even want to acknowledge it exists.

 

[CleverNickName]

Apparently this is so embarrassing to the "go woke go broke" crowd that any mention of this is not only being locked, it's being deleted off of the boards. They don't even want to acknowledge it exists.

Yep, that's the kind of behavior we have come to expect from that crowd.

 

[Whizbang Dustyboots]

I'm not really sure WHAT his endgame is here.

Hasn't that been the theme of this entire affair?

 

[Snarf Zagyg]

Hasn't that been the theme of this entire affair?

He has forgotten what his aim was, so he must redouble his effort.

 

[Jer]

TSR has no assets; they themselves said that in the filing. The only non-zero value they mention is their overdrawn bank account.

I'm kind of worried that they might end up selling some of the museum's collection out of desperation. If he has his way, he'll sell the floorboards of the museum house just to save his ass.

Honestly with the way that folks have talked about LaNasa's corporate veil shennanigans, I could see the Museum being pulled into all of this and considered an asset that needs to be sold to satisfy creditors.