Min Hee Jin's House Provisionally Seized: Creditor Claims 100 Million Won in Costly Legal Battles
Min Hee Jin's house seized after costly legal battles
Min Hee Jin's residence has been placed under seizure following a creditor's claim of 100 million won on the property.
On November 10, the real estate industry reported that a house in Yeonnam-dong, Mapo-gu, Seoul, where Min resides, received a foreclosure notice from the court. The Seoul Western District Court approved the creditor's foreclosure request on September 23.
A precautionary seizure is a legal measure that allows creditors to secure a debtor's assets to potentially enforce a future judgment, such as selling the property at auction. Because it can take several months to obtain a final judgment after filing a lawsuit, creditors often seek a precautionary seizure to prevent the debtor from disposing of the assets in the meantime.
According to the land registry, Director Min purchased a small apartment in Yeonnam-dong, Seoul for 387 million won in 2011. Since the property was purchased 13 years ago, it is assumed that the house has appreciated in value. According to KB Real Estate, the average price of a house in Yeonnam-dong, Mapo-gu, Seoul is now around 985 million won.
The 100 million won claim against Min remains unproven. However, Min discussed his financial situation at the '2024 Hyundai Card Da Vinci Motel' event, stating, "The legal fees have reached 2.3 billion won, and I might have to sell my house because of this."
Meanwhile, Min is still embroiled in a management rights dispute with HYBE, where Bang Si Hyuk is the majority shareholder. HYBE has filed a criminal complaint against Min, alleging breach of duty amid claims of a "takeover of ADOR's management."
Recently, Min's request for interim reinstatement as CEO was denied by the court, further affecting his position. The dismissal of the injunction indicates that it was returned without review due to insufficient qualifications. Additionally, Min is facing civil and criminal lawsuits from other HYBE affiliates, Source Music, and Belift Lab.
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