Crossroads for dismissal of ADOR CEO Min Hee-jin... Today (17th) is the deadline for provisional disposition banning HYBE from exercising voting rights

According to legal circles, today (17th), the Seoul Central District Court's Civil Settlement Division 50 (Chief Judge Kim Sang-hoon) decided to dismiss Min Hee-jin from her position as CEO of ADOR.
A hearing date will be set for the provisional disposition that CEO Heejin filed against HYBE to prevent the company from exercising its voting rights. This is to prevent HYBE from exercising its voting rights at the extraordinary general meeting of shareholders to be held on the 31st.
If HYBE, which holds 80% of ADOR's shares, votes in favor of the move at the extraordinary shareholders' meeting, the dismissal of CEO Min Hee-jin will be unavoidable.
If the court rules in favor of Min Hee-jin, HYBE will not be able to dismiss her at the extraordinary shareholders' meeting, and the outcome of this meeting is likely to determine whether ADOR's management will be replaced.
ADOR said in an official statement on the 7th, "HYBE has requested the convening of an extraordinary general meeting of shareholders regarding the dismissal of CEO Min Hee-jin and internal director, but this has not been agreed upon with CEO Min Hee-jin.
"This is a violation of the shareholders' agreement that was signed between the two companies," and "the right to demand performance of the shareholders' agreement is a protected right, and we must not exercise our voting rights in favor of the proposal to dismiss Min Hee-jin, CEO and internal director, against HYBE."
"Min Hee-jin is of the opinion that HYBE's allegations of embezzlement are unfounded, and ADOR's artists have filed an application for a provisional injunction to prohibit them from exercising their voting rights," the company said.
"In order to protect the corporate value of Artist and ADOR, we have decided to apply for a provisional injunction prohibiting the exercise of voting rights," the company said. Attention is focused on whether the provisional injunction issued by CEO Min Hee-jin will be approved.
HYBE and CEO Min Hee-jin have been engaged in a long battle since last April, with repeated accusations. HYBE suspects that CEO Min Hee-jin and ADOR executives are attempting to seize management rights.
Min Hee-jin said that all the allegations are untrue and that when she tried to make an internal complaint, an illegal audit was carried out and HYBE tried to bury her.
Various revelations have continued, including allegations of plagiarism and poor treatment of "wJeans," leaving K-pop fans in a state of shock.