TSR NuTSR Declares Bankruptcy

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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.


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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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Wincenworks

Adventurer
North Carolina man gives poorly advised interview to local newspaper.


Highlights include:
  • Justin claiming his work must be valuable, because he spent hundreds of thousands of dollars on it
  • Justin claiming he "recently learned" the trial had been extended (which was by mutual agreement) and so filed for bankruptcy
  • Mention of Tenkar's lawsuit as "disputed"
  • No mention of the counter-suit which kind of undermines the whole explanation of "well the lawsuit was going to take too long..."
  • This:
1689373726104.png

Justin's lawyers have the worst client.

Since this thread is specifically about the bankruptcy I'd also like to point out - his creditor interview is on 24 July.

Just couldn't wait two weeks to mitigate his risks of anything he said being used against him in his interview, he had to go out and say all this stuff now - knowing WotC have hired a big bun to represent their interests.

This is truly Loony Tunes energy.
 


vecna00

Speculation Specialist Wizard
North Carolina man gives poorly advised interview to local newspaper.


Highlights include:
  • Justin claiming his work must be valuable, because he spent hundreds of thousands of dollars on it
  • Justin claiming he "recently learned" the trial had been extended (which was by mutual agreement) and so filed for bankruptcy
  • Mention of Tenkar's lawsuit as "disputed"
  • No mention of the counter-suit which kind of undermines the whole explanation of "well the lawsuit was going to take too long..."
  • This:
View attachment 290146
Justin's lawyers have the worst client.

Since this thread is specifically about the bankruptcy I'd also like to point out - his creditor interview is on 24 July.

Just couldn't wait two weeks to mitigate his risks of anything he said being used against him in his interview, he had to go out and say all this stuff now - knowing WotC have hired a big bun to represent their interests.

This is truly Loony Tunes energy.
Whelp!
 

J.Quondam

CR 1/8
North Carolina man gives poorly advised interview to local newspaper.


Highlights include:
  • Justin claiming his work must be valuable, because he spent hundreds of thousands of dollars on it
  • Justin claiming he "recently learned" the trial had been extended (which was by mutual agreement) and so filed for bankruptcy
  • Mention of Tenkar's lawsuit as "disputed"
  • No mention of the counter-suit which kind of undermines the whole explanation of "well the lawsuit was going to take too long..."
  • This:
View attachment 290146
Justin's lawyers have the worst client.

Since this thread is specifically about the bankruptcy I'd also like to point out - his creditor interview is on 24 July.

Just couldn't wait two weeks to mitigate his risks of anything he said being used against him in his interview, he had to go out and say all this stuff now - knowing WotC have hired a big bun to represent their interests.

This is truly Loony Tunes energy.
For us non-lawyers, what's the special significance of admitting he's rebranding and staying in the RPG business?
 

Wincenworks

Adventurer
For us non-lawyers, what's the special significance of admitting he's rebranding and staying in the RPG business?
It opens the door for a lot of questions about things like:
  • What assets are transferred across?
  • What records show that no unlawful transfers occurred?
  • What was the relationship of the companies prior to consideration of bankruptcy?
Basically the idea is when you bankrupt a company, you're stepping back and letting the trustee handle everything. If you have other companies, they can continue trading normally - and if you're very optimistic, you can start a new company to do the same thing that the old did (and even buy it's assets, from the trustee at a price agreed upon as reasonable) but the one thing you can't do is just say "this company owns the debts, and my other companies will continue the business because they own all the assets"

In this case he paid a bankruptcy lawyer $7,000 to file the paperwork, guide him on what to do etc. And the whole point of the process is to make everyone with an interest feel confident there was a fair and equitable outcome. Creditors who don't get paid know all reasonable steps were taking, the bankrupt knows they're not going to be persecuted, etc.

Literally all he should have done after that some public declarations on the social medias the company will be entering bankruptcy and then shut the naughty word up until the outcome is resolved - instead he's running around telling people he's playing 4D Chess.
 
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Cordwainer Fish

Imp. Int. Scout Svc. (Dishon. Ret.)
For us non-lawyers, what's the special significance of admitting he's rebranding and staying in the RPG business?
To this non-lawyer, it smells fishy for someone to file Chapter 7 (i.e. send the company to the organ banks) and at the same time claim to be able to operate a business that is the very same company except wearing Groucho glasses. Someone doing that legitimately would presumably go Chapter 11 (i.e. a fiscal mulligan) instead.
 

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