2024-05-17 08:42:38
Momentary injunction in opposition to Hive from exercising voting rights
Adore management rights? ‘Aillet’s New Jeans copy incident’ is the essence.””>Min Hee-jin‘s aspect “Negeans’ violation of rights was a breach of belief”
Hive aspect: “It is a severe disqualification as CEO”
The courtroom is predicted to decide between the twenty fourth and thirty first.
Within the interrogation of the injunction banning voting rights filed in opposition to HYBE by Adore Min Hee-jin, CEO of Adore, the company of the group ‘New Denims’, he continued the argument made on the earlier press convention by saying, “It’s a breach of belief to neglect the infringement of the rights of New Denims, the one artist.” went.
Alternatively, Hive countered, saying that CEO Min used the dad and mom of New Genes members as a instrument within the dispute for his personal monetary acquire. He additionally countered that he had severe disqualifications in finishing up his duties as CEO, together with shaman administration.
On the morning of the seventeenth, Civil Settlement Division 50 of the Seoul Central District Courtroom (Chief Choose Sang-hoon Kim) held a listening to on the provisional injunction that Consultant Min had filed in opposition to Hive, asking them to “ban the train of voting rights.” On at the present time, Consultant Min didn’t seem in courtroom.
Consultant Min identified, “There have been a number of issues, such because the shareholder contract containing poisonous clauses and content material totally different from what Hive defined concerning inventory choices and taxation.”
He went on to assert, “The debut of ILLIT, a brand new lady group underneath Hive, was the fruits of not solely the difficulty of suspicions of copying or plagiarizing New Genes, but additionally the varied discriminations and issues that had existed sporadically.”
As well as, CEO Min mentioned, “I solely fulfilled my obligations underneath the unique contract and the shareholder contract, and I’ve not dedicated any act in violation of the Articles of Incorporation or legal guidelines.” “I fulfilled my responsibility (to the extent typically required),” he defined.
Alternatively, Hive countered that CEO Min had severe disqualifications in performing his duties as CEO, similar to assembly with world traders to grab administration rights.
In response to the declare that Eyelet plagiarized New Genes, Hive mentioned, “CEO Min knew that the promotion methodology couldn’t be the goal of plagiarism, so he retreated through the use of phrases similar to ‘components’ and ‘tone and method’, which have imprecise and unclear meanings. He countered, saying, “In the long run, Consultant Min’s claims have been all aimed toward elevating points.”
He additionally mentioned, “CEO Min used New Genes’ dad and mom as a instrument within the dispute for his personal financial profit,” and “He tried to keep away from his personal threat by making the dispute a problem and use the dad and mom for his personal functions.”
On the identical time, he identified, “On account of the audit, Adore’s administration met with inner executives and staff, exterior traders, and analysts to recruit pleasant forces for the takeover of administration rights,” and added, “Additionally they obtained encouragement from hostile takeovers of administration rights.”
As well as, “CEO Min requested the shaman about main choices similar to ▲ deciding on the mission of Adore ▲ choosing the debut group members ▲ and ▲ the timing of New Denims’ debut, and he completely adopted them,” he mentioned. “CEO Min has a biased and distorted gender notion sensibility.” “It was discovered that he was unfit to carry out his duties as a director,” he mentioned.
In the course of the interrogation, Hive tried to disclose messages from CEO Min’s conversations along with his associates, during which he ignored and belittled New Genes members. Nevertheless, Consultant Min raised an objection and it was not disclosed in courtroom. Consultant Min additionally reacted to the disparaging remarks about girls launched by Hive, calling them “nonsense.”
Contemplating that a rare shareholders’ assembly is scheduled to be held on the thirty first, the courtroom mentioned it will obtain the mandatory knowledge by the twenty fourth and decide within the meantime.
Beforehand, Hive, Adore’s mother or father firm, requested to carry a rare common assembly of shareholders, and Adore introduced on the tenth that its board of administrators resolved the agenda and determined to carry a rare common assembly of shareholders on the thirty first.
Hive, which owns 80% of Adore’s shares, requested the dismissal of CEO Min on the extraordinary common shareholders’ assembly. Since Hive holds a majority stake in Adore, CEO Min’s dismissal is for certain.
Nevertheless, Consultant Min filed an software for a provisional injunction in opposition to Hive to ban the train of voting rights to the impact that voting rights in favor of the dismissal agenda shouldn’t be exercised on the Seoul Central District Courtroom.
If the courtroom approves CEO Min’s request for a preliminary injunction after the listening to, Hive’s plan to fireplace CEO Min and stabilize Adore can be disrupted. Alternatively, if the preliminary injunction software is rejected, Hive can change Adore’s administration.
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2024-05-17 08:42:38