Ex-FIFTY FIFTY Stars Forced to Surrender Earnings Until Massive Debt is Cleared

In a recent legal development, the Seoul Court has approved ATTRAKT's application for the temporary freeze of credit deposits against former FIFTY FIFTY members. This decision comes in response to damages caused by illegal acts attributed to The Givers.

ATTRAKT, representing FIFTY FIFTY, made a formal statement on May 7th, revealing:

"We have filed an application for the temporary freeze of credit deposits to secure part of the compensation for damages caused by The Givers' illegal acts to the Seoul Court through legal representatives. On April 24th, the court approved this application."

The primary aim of freezing credit deposits is to secure a portion of the compensation amounting to 1 billion won (approximately 730,000 USD). This figure represents a fraction of the total compensation sought, with the possibility of an increase in subsequent court sessions.

As a direct consequence of this legal decision, both The Givers and three former members of FIFTY FIFTY face potential seizure of all earnings until they fully repay the stipulated compensation amount. IN CASE YOU MISSED THIS: ATTRAKT Claims $10M From Ex-FIFTY FIFTY Aran, Sio & Saena for Breach of Contract Additionally, it has come to light that ATTRAKT has initiated a civil lawsuit demanding 13 billion won (approximately 9.5 million USD) in compensation from three ex-members of FIFTY FIFTY and CEO Ahn Sung Il of The Givers.

This legal saga underscores the complexities of financial disputes within the K-pop industry and highlights the rigorous legal mechanisms in place to address such matters.

"We have filed an application for the temporary freeze of credit deposits to secure part of the compensation for damages caused by The Givers' illegal acts." - ATTRAKT representative, May 7th.

In recent news, Jeon Hoong Joon, CEO of ATTRAKT, has been cleared of charges filed by former FIFTY FIFTY members Saena, Sio, and Aran. The complaint, filed in August 2023, accused him of breaching trust by using the group's music profits for personal gain. However, the Gangnam Police Station in Seoul decided not to proceed with the case.

ATTRAKT responded by announcing plans to sue the trio for $10 million due to contract breaches. They also targeted the members' parents for their involvement. This development comes amidst ongoing legal battles between ATTRAKT and FIFTY FIFTY, highlighting the complexities within the K-pop industry.

For more K-Pop news and updates, keep your tabs open here at KpopStarz.

KpopStarz owns this article.
Written by Cassidy Jones.