HYBE Files Motion for Cancellation of Compulsory Execution Related to Stock Purchase Payment Claim Against Former CEO Min Hee-jin et al.

Former ADOR CEO Min Hee-jin reportedly proposed to HYBE that she would waive her 25.6 billion won put option in exchange for halting all lawsuits, but HYBE has effectively shown no signs of accepting the offer.

According to Star News, on the 10th, HYBE filed a motion for cancellation of compulsory execution through Seoul High Court, related to the stock purchase payment claim against former CEO Min Hee-jin et al.

Prior to this, HYBE had already applied for seizure and a collection order on former CEO Min Hee-jin’s claims (deposit accounts), and subsequently filed for a stay of compulsory execution alongside its appeal against the first-instance judgment in the stock purchase payment case. The court granted the stay, leaving the compulsory execution currently suspended.

In general civil litigation, the losing party may apply for a stay of execution to prevent the provisional execution of the judgment. Courts will, absent special circumstances, grant the stay in most cases on the condition that security is provided — for instance, by depositing a specified sum of cash or submitting a guarantee insurance certificate.

Notably, unlike a stay of compulsory execution — which temporarily halts enforcement — a cancellation of compulsory execution permanently excludes part or all of the enforcement measures from the execution procedure. This provides a telling indication of how HYBE views the current lawsuit.