ADOR’s Min Hee Jin won the court ruling against HYBE which prevents the conglomerate from taking fragment within the upcoming shareholders’ meeting which will focus on the model forward for Min Hee Jin at ADOR. The feud between HYBE and ADOR has been an field for the past few months and fresh revelations were made at every step. Right here is what the court’s most up-to-date decision methodology for the two companies.

Min Hee Jin wins injunction against HYBE

Min Hee Jin had filed a case against HYBE to prevent them from taking section within the shareholder’s meeting which is scheduled for Would possibly well 31. The meeting would focus on Min Hee Jin’s inform because the CEO of ADOR. On Would possibly well 30, Min Hee Jin won the injunction against HYBE. The Fiftieth Civil Affairs Division of the Seoul Central District Court docket ruled in prefer of Min Hee Jin. She had been accused of an tried takeover of ADOR by HYBE which led to your whole field.

What ADOR’s bag over HYBE methodology for the company

Since Min Hee Jin won the case, she’ll continue to exercise her role because the CEO of ADOR which manages the Ample-pop girl group of workers NewJeans. Since HYBE owns 80 percent of shareholders’ rights, they may be able to possess historical their votes to assemble Min Hee Jin step down from her inform as ADOR’s CEO if she had no longer won the case.

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Earlier it became as soon as reported that HYBE had proposed the dismissal of Min Hee Jin and a fresh board of administrators for ADOR for the upcoming shareholders’ meeting. If HYBE certainly does nominate a fresh board of administrators, Min Hee Jin will face appreciable restraint in management and her execution of energy.

Since HYBE misplaced the battle, for now, a netizen released a list of doable losses HYBE needed to incur due to the the feud. The list included about 730 million USD in market capitalization loss. Moreover, if HYBE does desire Min Hee Jin out of the list, they want to pay 20 billion KRW (about 14.6 million USD) to her despite an 80 percent stake in ADOR.

HYBE’s response to the court ruling

As the court ruling became as soon as out, HYBE gave a press free up explaining its stance. They said that they’re going to admire the ruling and no longer exercise their energy to brush aside Min Hee Jin. They acknowledged that Min Hee Jin plotted to weaken HYBE’s regulate over ADOR by taking NewJeans. Moreover, they tell that here is pressuring HYBE to sell its ADOR holdings which would result in Min Hee Jin gaining impartial regulate of ADOR.

Extra about ADOR and HYBE’s feud

The feud between HYBE and ADOR continues with fresh revelations being made day to day. Earlier, HYBE had accused ADOR of planning to rework impartial and steal over regulate of ADOR which is at this time below HYBE. They moreover accused ADOR of leaking private facts.

On Would possibly well 19, Min Hee Jin released her commentary relating to the accusations made against her. She commented that she most attention-grabbing met Naver and Dunamu for social capabilities and no longer with the plan of gaining management regulate over ADOR. She acknowledged that the dinner became as soon as hosted by an acquaintance and he or she became as soon as no longer attentive to who became as soon as attending the dinner meeting.

Min Hee Jin became as soon as moreover accused of cussing at NewJeans and slandering BTS, ILLIT and extra Ample-pop groups.