One Hundred Label Wins Asset Freeze Against The Boyz's Younghoon And Q Amid Contract Dispute

One Hundred Label, currently in a contract dispute with The Boyz members Younghoon and Q, has had its request for a provisional seizure on their properties approved.

According to Ilyo Sinmun on July 24, the Seoul Eastern District Court’s Civil Division 51 (single judge) approved One Hundred Label’s request, filed in June, for a provisional seizure on property owned by Younghoon.

The property subject to the seizure is an apartment in Seongdong District, Seoul, owned by Younghoon, with a claimed amount of roughly 500 million won (about $360,000). The agency’s request for a provisional seizure on property owned by member Q was also approved.

Regarding the matter, attorney Hyun Dong Yeop of law firm Hwageum, representing One Hundred Label CEO Cha Ga Won and the agency, told Xports News on July 24, “It’s true that Younghoon and Q’s properties have been placed under provisional seizure.”

He added, “This provisional seizure approval marks the starting point of the roughly 8.8 billion won [about $6.3 million] main claim against The Boyz members. We are currently identifying the other members’ property locations as well, and plan to file for provisional seizures sequentially.”

Attorney Hyun also said, “We will actively respond to any objections while working to win the main lawsuit and normalize the company’s management. This is what not only the company but our creditors want most,” stressing, “There will be no shutting down or closing the company until we recover the full amount.”

The provisional seizure is a procedure to secure execution of the monetary claim One Hundred Label is asserting. The agency’s position is that the advance payments made under the exclusive contract — contingent on the members’ continued activity through the contract period — function as advance payments, meaning that if the contract term isn’t fulfilled, the amount corresponding to the remaining period must be returned as unjust enrichment.

In response, law firm Yulchon, representing all nine members of The Boyz, reportedly filed an objection to the property seizure ruling with the Seoul Eastern District Court on July 13.

Meanwhile, in February, nine members of The Boyz (excluding New) — Sangyeon, Jacob, Younghoon, Hyunjae, Juyeon, Kevin, Q, Sunwoo, and Eric — filed for an injunction to suspend the effect of their exclusive contract, citing One Hundred Label’s failure to fulfill its settlement payment obligations.

The court granted the injunction, and One Hundred Label said at the time, “The granting of the injunction is not a final ruling, and we will reveal the truth through the main lawsuit.”

Source: (A)