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Lee Seung Gi’s legal representative denies Hook Entertainment’s claims that they settled all their debt obligations : Bollywood News


South Korean singer-actor Lee Seung Gi’s authorized consultant denied Hook Leisure’s claims of their further assertion that they settled all their debt obligations to the singer relating to unpaid music income.

Lee Seung Gi’s legal representative denies Hook Entertainment’s claims that they settled all their debt obligations

Lee Seung Gi’s authorized consultant denies Hook Leisure’s claims that they settled all their debt obligations

In keeping with Korean tabloid Soompi, Beforehand, it was reported on November 26 that Lee Seung Gi had lent CEO Kwon Jin Younger a complete of 4.725 billion received (roughly $3.538 million) with zero curiosity and the CEO had bought had bought a residence within the well-known luxurious residence advanced Hannam the Hill. Hook Leisure and CEO Kwon Jin Younger each briefly responded that the acquisition has nothing to do with the company and Lee Seung Gi.

Following the assertion, Lee Seung Gi’s authorized consultant launched a further assertion. “Hook Leisure shared by means of their assertion on November 25 that it isn’t true that they haven’t paid music income [to Lee Seung Gi] and that they settled all their debt obligations with Lee Seung Gi,” the assertion started. “We categorical deep remorse relating to Hook Leisure’s false claims, and thru this, Lee Seung Gi has decided that additional dialog is meaningless with Hook Leisure.”

“Lee Seung Gi by no means acquired a press release of accounts for his music income,” the assertion continued. “There isn’t a approach of telling in any respect what sort of cost Hook Leisure made to Lee Seung Gi for his music or by means of what technique. What is definite is that Hook Leisure purposefully hid from Lee Seung Gi the reality that income from music had been being generated and that revenue settlements primarily based on correct breakdowns and proof didn’t happen. If Hook Leisure paid Lee Seung Gi for his music, they’ll present clear proof of cost by means of thorough verification of deposit and withdrawal statements.”

The assertion additional learn, “The calculations are additionally easy. If there are settlement particulars of the bottom cost for music as Hook Leisure claims, they’ll exclude it from the unpaid cost. Regardless of this not being a tough drawback within the slightest, we as soon as once more categorical remorse that [Hook Entertainment] has not revealed the gross sales and settlement statements for his music income and that they constantly gaslighted him till now by telling him, ‘You’re a minus singer (that means unfavourable revenue margin).’”

Th consultant additional shared, “On the time Lee Seung Gi renewed his unique contract with Hook Leisure round 2021, they revealed that they’d cleared up all of the bond-debt relationships between the events, however this isn’t true within the slightest as nicely. We need to clearly inform that the related written settlement shouldn’t be a settlement settlement between Lee Seung Gi and Hook Leisure for his music income. The 2021 settlement between Lee Seung Gi and Hook Leisure was relating to Lee Seung Gi’s actual property funding of 4.7 billion received in Hook Leisure.

Round 2011, Hook Leisure acquired an funding of 4.7 billion received from Lee Seung Gi for the explanation of buying a constructing. CEO Kwon Jin Younger didn’t maintain any guarantees relating to the funding. When Lee Seung Gi expressed his intent to terminate his administration contract with Hook Leisure, Hook Leisure revealed that they’d deal with the present funding as a mortgage, and in that course of, they wrote an settlement whereas eradicating Lee Seung Gi’s rights as an investor.

We really need to ask Hook Leisure how Lee Seung Gi, who didn’t even know the reality about music income being generated, can settle the music income and make an settlement on that. If Hook Leisure requested Lee Seung Gi signal an settlement in 2021 with the settlement of the music income in thoughts, that’s clearly a case of fraud. All the problems originated from Lee Seung Gi’s lack of expertise from having debuted at a younger age, and we convey that Lee Seung Gi solely feels apologetic for making many involved with private points.”

The authorized consultant concluded stating, “We hope that the issue will likely be settled by means of clear affirmation of the info and that Hook Leisure not causes bother for many individuals anymore by means of distortion and lies.”

Additionally Learn: Lee Seung Gi’s authorized consultant addresses non-receipt of music income from Hook Leisure

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