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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[doctorhook]

I'm trying to fathom what the 384K in liabilities they could have. If the museum LLC has the house, what could he have that is worth that much?

Anything’s a legitimate business expense until you get audited, lol

 

[Mort]

I'm trying to fathom what the 384K in liabilities they could have. If the museum LLC has the house, what could he have that is worth that much? WE haven't seen anything from them (at least in bulk) so it's not that they published anything, at least that we've seen. Is it salaries that he's borrowed in order to pay others? Several years worth of salaries and benefits paid from loans they received?

Otherwise, trying to figure what they have in liabilities that could possibly amount to that. Even Lawyer fees (I don't think they've done a TON with the lawsuits yet, at least to that degree) probably aren't that much YET...or so I imagine from what I've seen, unless they have one full time employed or more than just normal duties. The lawsuit is still in the beginning stages from what I've heard (here...mostly). Or did lawyers also ask for upfront payment (wise choice if they did I suppose).

$21,662.50 owed to the attorneys for the lawsuit against WoTC.

A small amount ($93.44) in bounced check fees.

The rest ($363,186.05) are loans from LaNassa himself or his businesses (such as the tattoo shop)

WoTC and Tenkar are listed for $0 (basically as notice parties).

So BY FAR the biggest creditor is LaNasssa himself.

 

[GreyLord]

$21,662.50 owed to the attorneys for the lawsuit against WoTC.

A small amount ($93.44) in bounced check fees.

The rest ($363,186.05) are loans from LaNassa himself or his businesses (such as the tattoo shop)

WoTC and Tenkar are listed for $0 (basically as notice parties).

So BY FAR the biggest creditor is LaNasssa himself.

Sounds like Self-Flagellation then. I would assume he's hosed himself in this case then.

 

[Shakeshift]

I have a feeling when Justin gets dragged into court over all of this, Justin is most likely going to say or do ANYTHING HE CAN to shunt the financial blame and fault to anyone he can possibly pawn it off on. I don't have proof of this, but now that Justin is backed into a corner, I wouldn't be surprised if Ernie and Duck are full business partners again suddenly. This full story isn't over yet, I'm afraid.

 

[Zardnaar]

$21,662.50 owed to the attorneys for the lawsuit against WoTC.

A small amount ($93.44) in bounced check fees.

The rest ($363,186.05) are loans from LaNassa himself or his businesses (such as the tattoo shop)

WoTC and Tenkar are listed for $0 (basically as notice parties).

So BY FAR the biggest creditor is LaNasssa himself.

$21,662.50 owed to the attorneys for the lawsuit against WoTC.

A small amount ($93.44) in bounced check fees.

The rest ($363,186.05) are loans from LaNassa himself or his businesses (such as the tattoo shop)

WoTC and Tenkar are listed for $0 (basically as notice parties).

So BY FAR the biggest creditor is LaNasssa himself.

So he has basically blown 360k?

 

[Dannyalcatraz]

I don’t envy the lawyers and judge who have to sort though that mess. A dozen LLCs, all overlapping with some expired (Port City Kava) being the ones actually taking in revenue (that’s the LLC for DHSM point of sale for online PayPal purchases)

For bankruptcy lawyers, that’s Tuesday before they get their tacos.

 

[Dannyalcatraz]

Heck if WoTC is annoyed enough, THEY can now push for much broader discovery then they could have in the other case (doubt they will, though, they'll let the 7 trustee have his way and save the legal expense).

The nature of this bargain basement saga has me thinking WotC & Hasbro would love to make an example of LaNasa et alia. I wouldn’t be surprised to find out more than one person in the “war room” suggesting:

 

[LuisCarlos17f]

Could the IPs to be acquired by other company?

 

[Dannyalcatraz]

Eventually.

But let’s be honest- who would want NuTSR’s IP?

 

[Deset Gled]

I don't have proof of this, but now that Justin is backed into a corner, I wouldn't be surprised if Ernie and Duck are full business partners again suddenly. This full story isn't over yet, I'm afraid.

It's pure speculation at this point, obviously, but you could be on to something. Jeff "Duck" Leason recently did an interview where he stated "There's three of us, partners at the museum". It would be unfortunate but unsurprising for Lanasa to pull something like that.

But let’s be honest- who would want NuTSR’s IP?

Well, I certainly wasn't willing to pay $50 for a copy of Dungeon Crawl, but I could probably be convinced to pay $50 for the rights to it. The version with the Elmore art, anyway.