A well-known leap forward came for the ongoing HYBE-ADOR vitality battle because the court approved Min Hee Jin’s injunction against HYBE’s exercise of voting rights. This decision by the court entirely shifts the route of this public feud between the father or mother firm and its subsidiary ADOR.

Min Hee Jin wins injunction against HYBE for banning their voting rights in upcoming shareholders meeting

On Also can 30, Korean media outlets reported that the Seoul Central District Court had approved the injunction submitted by ADOR’s CEO Min Hee Jin for banning HYBE’s exercise of voting rights within the upcoming general shareholders meeting on Also can 31.

Her decision for this injunction was geared in opposition to combating HYBE from removing her because the CEO of ADOR. As a well-known shareholder of the firm, HYBE would acquire the upper hand within the shareholder meeting.

On the opposite hand, with this decision by the court, the father or mother firm could maybe no longer be ready to route of Min Hee Jin’s dismissal steady now no topic being the 80% stakeholder.

The principle agenda of the upcoming shareholder meeting is to deem Min Hee Jin’s fate in ADOR, nonetheless with the injunction get, she is now ready to cease the route of until extra update.

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The court furthermore presented its judgment for the choice explaining that Min Hee Jin’s action could maybe objective be an act of betrayal in opposition to HYBE, nonetheless it’s subtle to rule this out as a breach of believe.

Besides, the court furthermore presented that if the agency violates its obligation of no longer exercising voting rights, they want to pay a sum of 20 billion gained in compensation.

For HYBE, the excellent possibility is to amass evidence and establish a matter to a different shareholder meeting or charm the court’s decision about Min Hee Jin’s injunction.

Within the period in-between, fixed with experiences, HYBE has already chosen the excellent candidates as a replacement for Min Hee Jin as ADOR’s CEO. Among these C-suite executives are Chief Technique Officer Lee Jae Sang, Chief HR Officer Kim Ju Young, and Chief Monetary Officer Lee Kyung Jun.

Ongoing HYBE-ADOR war summarized

For the unversed, the vitality battle between HYBE and its subsidiary ADOR arose when CEO Min Hee Jin was caught planning to usurp administration rights from the father or mother firm. HYBE launched an audit against her for additonal inspection. As more evidence was gathered, the firm asked Min Hee Jin to step down because the CEO of ADOR, the agency within the relief of NewJeans.

On the opposite hand, the war began making headlines after she began bringing many claims against HYBE, even accusing the agency of plagiarizing NewJeans’ view for their most up-to-date girl neighborhood ILLIT.

The father or mother firm furthermore filed a lawsuit claiming Min Hee Jin leaked confidential change files to outsiders, with whom she schemed ADOR’s separation from HYBE.

On the opposite hand, because the court ruled in Min Hee Jin’s opt on, all eyes are on how this vitality battle will be performed out to any extent extra.