What happened in court after HYBE requested permission to hold temporary shareholders' meeting for ADOR CEO's dismissal - Hindustan Times
close_game
close_game

What happened in court after HYBE requested permission to hold temporary shareholders' meeting for ADOR CEO's dismissal

May 01, 2024 02:03 PM IST

The legal representatives from Kim & Jang Law Firm, representing HYBE, and attorneys from Shin & Kim Law Firm representing ADOR were present at the hearing.

The HYBE and ADOR conflict reached the Seoul Western District Court after the former requested permission to hold a temporary shareholders' meeting. As per an Allkpop report, the court hearing on Tuesday ended only in 30 minutes. The Civil Department 21 of the court pondered on HYBE's application to convene the meeting for the dismissal of ADOR CEO Min Hee-jin. (Also Read | BTS Members' cult group scandal: HYBE fumes over 'Dahn World' connection, ‘crossing the line...')

HYBE chairperson Bang Si-Hyuk and ADOR CEO Min Hee-jin.
HYBE chairperson Bang Si-Hyuk and ADOR CEO Min Hee-jin.

Court proceedings conducted privately

According to the report, the court proceedings were conducted privately, as per non-litigation procedure laws. The legal representatives from Kim & Jang Law Firm representing HYBE and attorneys from Shin & Kim Law Firm representing ADOR were present at the hearing.

Now catch your favourite game on Crickit. Anytime Anywhere. Find out how

Shareholders' meeting in May?

Following the hearing, Shin & Kim's attorney stated, "The board of directors will convene by May 10, with the shareholders' meeting expected to follow by the end of May. Any further statements will be made to the court by May 13."

What HYBE official said

HYBE's Chief Legal Officer (CLO), Jung Jin Soo, said, "We have to wait and see if it will be done like that. Since it was stated in court, I don't think it's a lie. It's not significantly different from what we thought. We don't know ADOR's intentions. We need to watch a bit."

HYBE-ADOR conflict so far

On April 22, HYBE stated that Hee-jin and key executives attempted a takeover, making them launch an audit of ADOR and demanded that she resign. On May 29, they filed an embezzlement complaint against Hee-jin with the Seoul Yongsan Police Station. On the same day, she held a press conference, refuting the allegations and appealing for fairness. She claimed HYBE was trying to dismiss her unfairly after she accused another of its subsidiaries, BELIFT LAB, of imitating NewJeans with a girl group of its own called ILLIT.

About Min Hee-jin, NewJeans

Hee-jin, who joined the industry in the early 2000s, is widely regarded as one of the most successful producers in K-pop, having worked with stars such as Girls' Generation, EXO and SHINee. NewJeans, a K-pop phenomenon that made its debut in 2022 and whose members are all under 20, is among HYBE's most successful K-pop groups, along with BTS.

Get World Cup ready with Crick-it! From live scores to match stats, catch all the action here. Explore now!.

Get more updates from Bollywood, Taylor Swift, Hollywood, Music and Web Series along with Latest Entertainment News at Hindustan Times.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, June 17, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On