On Thursday, May 30, the Seoul Central District Court granted an injunction filed by Ador CEO Min Hee-jin, an affiliate of K-pop giant Hybe, preventing the latter from dismissing her as the sublabel’s head. The court rendered its ruling a day before the Ador shareholders’ meeting, where Hybe was anticipated to take Min’s position as CEO due to an alleged breach of trust. In a report , Sejong Law Firm, a legal representative of Min Hee-jin said, “Hybe requested Ador to convene an extraordinary general shareholders’ meeting on the agenda of dismissal of CEO and in-house director Min Hee-jin on April 22, 2024, and the above extraordinary general shareholders’ meeting will be held on the 31st.
However, this violated the shareholder contract signed between CEO Min Hee-jin and Hybe, and CEO Min Hee-jin applied for a provisional disposition against Hive on the 7th to ban the exercise of voting rights on the “agenda for dismissal of CEO and in-house director Min Hee-jin.” “The 50th Civil Affairs Department of the Seoul Central District Court made a decision this afternoon to cite the above request for provisional disposition. As a result, Hybe will not be able to exercise its voting rights in favor of “the dismissal of inside director Min Hee-jin” at Ador’s extraordinary shareholders’ meeting to be held on the 31st,” they went on.
With 80 percent of Ador’s shares in its possession, Hybe conducted a surprise audit of Min late last month and then filed a b.