Courtesy of NewJeansSTRM's X account
Ahead of Ador’s extraordinary shareholders’ meeting on Friday to decide on the potential dismissal of CEO Min Hee-jin, various stakeholders are voicing their opinions through petitions submitted to the Seoul Central District Court.
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| ▲ Courtesy of Min Hee Jin's instagram |
On May 24, NewJeans fans submitted a petition urging the court to respect the contract terms between Min and Hybe, pending any legal conclusions regarding alleged unlawful actions by Min. The petition, which garnered 10,000 signatures within 16 hours, expressed support for Min to remain as CEO, reflecting the fans' belief that this aligns with the wishes of NewJeans members.
Min’s lawyer filed the fans' petition following its rapid collection of signatures. Additionally, both Min and NewJeans members submitted their own petitions during a hearing on the preliminary injunction filed by Min on May 17. Min is seeking to prevent Hybe from exercising its voting rights at the upcoming shareholders' meeting, where Hybe, holding 80 percent of Ador’s shares, is expected to vote in favor of Min’s removal.
Ador staff members also filed a petition in support of Min on the previous Tuesday.
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| ▲ A petition filed by NewJeans fans with the Seoul Central District Court, May 24 / Courtesy of NewJeansSTRM's X account |
Conversely, Hybe representatives, including key figures from its subsidiaries such as Pledis Entertainment founder Han Sung-soo, Source Music CEO So Sung-jin, BTS' producer Pdogg, and creative director Kim Sung-hyun, submitted petitions supporting Hybe’s position. They argued that protecting the company’s multi-label system is crucial and that Min’s actions serve her private interests over the company's collective well-being.
Legal experts suggest that Min faces significant challenges in securing the injunction. “Unless there is a solid reason, such as clear illegality, to prevent shareholders from exercising voting rights, the likelihood of the court granting Min’s injunction is very slim,” stated Lee Jae-kyoung, a professor at Konkuk University Law School and president of the Korea Entertainment Law Society. While the petitions from NewJeans members and their fans may be considered, their influence on the final decision is expected to be limited. The court's decision on the injunction is anticipated this week.
Sayart
Blue YIM, yimyoungseo1010@naver.com
Fans and Staff Submit Petitions as Seoul Court Weighs Preliminary Injunction
Courtesy of NewJeansSTRM's X account
Ahead of Ador’s extraordinary shareholders’ meeting on Friday to decide on the potential dismissal of CEO Min Hee-jin, various stakeholders are voicing their opinions through petitions submitted to the Seoul Central District Court.
|
| ▲ Courtesy of Min Hee Jin's instagram |
On May 24, NewJeans fans submitted a petition urging the court to respect the contract terms between Min and Hybe, pending any legal conclusions regarding alleged unlawful actions by Min. The petition, which garnered 10,000 signatures within 16 hours, expressed support for Min to remain as CEO, reflecting the fans' belief that this aligns with the wishes of NewJeans members.
Min’s lawyer filed the fans' petition following its rapid collection of signatures. Additionally, both Min and NewJeans members submitted their own petitions during a hearing on the preliminary injunction filed by Min on May 17. Min is seeking to prevent Hybe from exercising its voting rights at the upcoming shareholders' meeting, where Hybe, holding 80 percent of Ador’s shares, is expected to vote in favor of Min’s removal.
Ador staff members also filed a petition in support of Min on the previous Tuesday.
|
| ▲ A petition filed by NewJeans fans with the Seoul Central District Court, May 24 / Courtesy of NewJeansSTRM's X account |
Conversely, Hybe representatives, including key figures from its subsidiaries such as Pledis Entertainment founder Han Sung-soo, Source Music CEO So Sung-jin, BTS' producer Pdogg, and creative director Kim Sung-hyun, submitted petitions supporting Hybe’s position. They argued that protecting the company’s multi-label system is crucial and that Min’s actions serve her private interests over the company's collective well-being.
Legal experts suggest that Min faces significant challenges in securing the injunction. “Unless there is a solid reason, such as clear illegality, to prevent shareholders from exercising voting rights, the likelihood of the court granting Min’s injunction is very slim,” stated Lee Jae-kyoung, a professor at Konkuk University Law School and president of the Korea Entertainment Law Society. While the petitions from NewJeans members and their fans may be considered, their influence on the final decision is expected to be limited. The court's decision on the injunction is anticipated this week.
Sayart
Blue YIM, yimyoungseo1010@naver.com
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