Min Hee-jin Requests Court Injunction for Reinstatement as CEO of ADOR

On September 13, it was announced by Min Hee-jin’s representatives that she has submitted an injunction at the Seoul Central District Court to convene an extraordinary shareholders’ meeting and reappoint her as an inside director of ADOR.

The comprehensive official statement from Min Hee-jin’s representatives is as follows:

“Greetings, this is the Marcol Consulting Group, representing former ADOR CEO Min Hee-jin, in collaboration with Sejong Law Firm.

Today, former CEO Min Hee-jin has filed an injunction at the Seoul Central District Court to convene an extraordinary shareholders’ meeting and reappoint her as an inside director of ADOR (Seoul Central District Court 2024-Kahap-21391, injunction on the exercise of voting rights, etc.). Below is an explanation of why we chose to seek the reappointment of a director and CEO instead of pursuing a suspension of her dismissal.

The dismissal of Min Hee-jin as CEO breaches the shareholder agreement and contradicts the previous court ruling that prohibits the exercise of voting rights. We have been preparing an injunction to challenge the validity of her dismissal as CEO. However, given the urgency for an extraordinary shareholders’ meeting before November 2 to reappoint her as a director and the court’s review timeline, we have decided to file this injunction to reappoint her as an inside director and eventually reinstate her as CEO.

Min Hee-jin’s five-year term as ADOR’s CEO and inside director is protected under the shareholder agreement. Despite this, HYBE unilaterally dismissed her as CEO based on the same reasons as previously stated, in direct violation of the existing shareholder agreement and the court’s injunction that safeguarded her term as CEO.

Min Hee-jin’s current three-year term as an inside director of ADOR concludes on November 2, 2024. HYBE has claimed, without valid justification, that the shareholder agreement has been annulled, and it is evident they have no intention to reappoint her as an inside director.

Consequently, we found it necessary to request an extraordinary shareholders’ meeting before her term as an inside director expires and to file an injunction to ensure that voting rights are exercised in favor of her reappointment.

We call upon HYBE to halt contract breaches, business obstructions, defamation, and insults, and to make prudent management decisions for the future of ADOR and NewJeans.”

Source: Daum

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