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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[humble minion]

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

Well, LaNasa would.

I assume his intention, in listing himself as the biggest creditor, it to retain control of NuTSRs IP by getting it in his own personal ownership. Maybe then he’ll try to start up a new company to sell it or something (perhaps taking a leaf out Lorraine Williams’s book and getting the company to pay him exorbitant licensing fees for the privilege)

I suspect the process won’t be quite that simple however.

 

[Maggan]

Well it seems as if their strategy of leaning heavily on being anti-woke made them go broke. Oh, the irony.

(With apologies to Seth Skorkowsky for stealing his joke from Twitter)

 

[Cordwainer Fish]

Well, LaNasa would.

I assume his intention, in listing himself as the biggest creditor, it to retain control of NuTSRs IP by getting it in his own personal ownership. Maybe then he’ll try to start up a new company to sell it or something (perhaps taking a leaf out Lorraine Williams’s book and getting the company to pay him exorbitant licensing fees for the privilege)

I suspect the process won’t be quite that simple however.

Oh, I am sure that is exactly the sort of clever move bankruptcy courts are very, very good at sniffing out and coming down on like a ten ton weight.

 

[Mallus]

So bad at grifting!

 

[DLIMedia]

(Mods: Noted. Sorry about that.)

Mod edit: Link removed. ~Umbran

 

[Jer]

I'm not convinced that this isn't some kind of scheme by LaNasa to restructure things to hide assets.

Not that it would necessarily be a good scheme. Just I have a hard time believing that anything he does isn't some kind of scheme.

 

[Mort]

I'm not convinced that this isn't some kind of scheme by LaNasa to restructure things to hide assets.

Not that it would necessarily be a good scheme. Just I have a hard time believing that anything he does isn't some kind of scheme.

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.

 

[darjr]

Eventually.

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

Jack Lesangia.

 

[Dausuul]

I'm not convinced that this isn't some kind of scheme by LaNasa to restructure things to hide assets.

Not that it would necessarily be a good scheme. Just I have a hard time believing that anything he does isn't some kind of scheme.

Given that most of the debt is apparently owed to other companies he owns, I'm entirely convinced it's a scheme to hide assets.

Presumably his thinking is that he can put in a bunch of claims on behalf of his other businesses, and then WotC (and his lawyers in the WotC suit) have to fight for a place at the table. It's the kind of plan a guy like LaNasa thinks is genius, and anyone who knows anything about law thinks is mind-bogglingly stupid.

 

[darjr]

Scheme to launder assets.