HYBE REQUESTS COURT PERMISSION FOR SHAREHOLDERS MEETING TO DISMISS ADOR CEO MIN HEE-JIN, HEARING ENDS IN 30 MINUTES
There's a new update in the HYBE-ADOR feud! The Seoul Western District Court held a hearing on HYBE's request on April 30.
HYBE and ADOR's first court hearing
At around 4:45 PM on April 30, the Seoul Western District Court held a hearing on HYBE's request to organize a general shareholders' meeting to dismiss ADOR CEO Min Hee-jin. The court conducted the hearing in private, adhering to the provisions outlined in the Non-Litigation Case Procedure Act.For the unversed, HYBE had filed an application for permission to convene an 'extraordinary general meeting of shareholders' with the court on the April 25. Should the court grant approval for the shareholders' meeting, a notification will be issued to arrange it within 15 days. During this meeting, HYBE intends to replace ADOR's current directors and CEO Min Hee-jin with new appointees. The entire process is anticipated to span over two months.
The hearing on permission for an extraordinary general meeting of shareholders regarding the dismissal of CEO Min Hee-jin was completed in 30 minutes. Following the interrogation, ADOR's lawyers reportedly announced that the label's management reportedly plans to hold a board of directors meeting by May 10 and the general shareholders' meeting at the end of May.
HYBE-ADOR's ongoing feud
On April 22, HYBE initiated an audit against ADOR's CEO Min Hee-jin. As per the reports, HYBE accused ADOR's CEO and management of devising a plan to gain complete control of ADOR, leaking sensitive information to external entities and attempts to tarnish the reputation of HYBE and its artists by manipulating public opinion.Following the audit by HYBE, Min Hee-jin accused HYBE's newest girl group, ILLIT, of copying NewJeans. As the feud continued, the ADOR CEO held a press conference on April 25 in which she revealed shocking chats with HYBE chairman Bang Si-hyuk, clarified accusations about a shaman being involved in her label-related decisions and NewJeans' uncertain future.
2024-04-30T11:04:22Z dg43tfdfdgfd