"Return the 4.2 billion won loan" HYBE's Bang Si-hyeok files lawsuit against Min Hee-jin for repayment

*This content was translated by AI.View Original

It is reported that Bang Si-hyeok, chairman of HYBE, has filed a lawsuit seeking the return of a loan against former ADOR representative Min Hee-jin (currently representative of OK Records).

According to BizKorea on the 16th, Chairman Bang recently filed a loan repayment lawsuit against Min Jeon (CEO). The amount is approximately 4.2 billion won, reportedly consisting of a principal of 3.7 billion won and interest of 500 million won.

Min Jeon (CEO) borrowed 3.7 billion won from Chairman Bang in the process of purchasing 18% of the company's shares while serving as representative of HYBE label ADOR in 2023. Based on this, she became the second-largest shareholder of ADOR, but later left the label the following year amid a management conflict with HYBE.

Subsequently, Chairman Bang applied for a payment order in April demanding the return of the loan. In response, the Seoul Western District Court accepted Chairman Bang's application for a payment order last May and issued an order requiring Min Jeon (CEO) to pay 4.2106 billion won to Chairman Bang.

However, Min Jeon (CEO) filed an objection last July. The case was registered as a civil lawsuit at the Seoul Western District Court on the 28th of the same month and was transferred to the Seoul Central District Court in accordance with the monetary loan agreement signed by the two parties.

Currently, HYBE and Min Jeon (CEO) are continuing various legal disputes, including a lawsuit seeking confirmation of the termination of the shareholders' agreement and a claim for damages. With the issue of returning funds borrowed during the share purchase process also leading to litigation, the conflict between the two sides appears to be expanding into yet another legal dispute.

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.View Original