As the FIFTY FIFTY contract saga continues on, there’s more news from the front after quite a bit of time off from stuff coming out.
In what was an obvious move, FIFTY FIFTY appealed the denial of contract injunction against ATTRAKT, the reasoning being that the court did say there’s a lack of transparency and it’s unclear if the CEO violated his duties.
FIFTY FIFTY continued by saying, “The court, in its ruling, pointed out the lack of transparency regarding the settlement structure for music and sound source income, as well as the details and items of the advance payment paid by the music producer for the creation of FIFTY FIFTY’s music. It was also unclear whether the CEO breached his duties in relation to this.”
But the most recent news is that the court ruled SIAHN of The Givers embezzled funds from ATTRAKT, and the seizure of fees from SIAHN has been approved.
“We found out that The Givers’ CEO Ahn Sung Il had embezzled the company’s funds while carrying out work for ATTRAKT. As such, for the first round, ATTRAKT had applied for the seizure of the copyright fees, as a portion of the embezzled funds. The Seoul Eastern District Court has approved this.”
That’s the first news with regards to the case of ATTRAKT against SIAHN, and honestly it’s not surprising as there’s nothing about the way SIAHN operated that made me think he wasn’t shady as hell.
Technically, as of yet, that result doesn’t have anything to do with FIFTY FIFTY, as both the girls and SIAHN maintain that there was no tampering. Obviously if there does end up being a connection between the group and SIAHN, then that damages their case and reputation even more. Though if there wasn’t tampering, then perhaps it could explain the perception from FIFTY FIFTY’s side that their funds were being misappropriated somehow, as The Givers were employed by ATTRAKT. We shall see.