News All YG Artists Attend Agency-Wide Meeting + Netizens Speculate What It's About (1 Viewer)

[jasque]

Or it's about Rose's solo or...

 

[Seros]

if YGE goes bankrupt, wouldn't they just dissolve the contracts
Why would they need to be sold

No, a company filing for bankruptcy doesn't mean immediate closure.

 

[jasque]

But wouldn't bank or sth own the contracts then?

Since it's about plp, i think they would just expire, it sounds too dumb that they would be left hanging or that bank could just sell them to company.

I think it really can be sold like that

See what happened with Madtown

Madtown - Wikipedia

en.wikipedia.org

 

[Abeamus]

if YGE goes bankrupt, wouldn't they just dissolve the contracts
Why would they need to be sold

No you can work your way back from bankruptcy and with YG idols could be on contracts where they are paid a % of what they sell which would mean they can be paid no matter how bad the companies position is so it'd only be like behind the scenes people that YG would be in danger of being unable to pay as they'd need to be on a salary.

 

[potato]

if YGE goes bankrupt, wouldn't they just dissolve the contracts
Why would they need to be sold

Not necessarily. They can do something that it equivalent to Chapter 11 in the US where a court-appointed person will try and turn the situation around. However, the process take a lot longer in Korea. I got this info from these sources:

3 Types of Business Bankruptcy
As GM mulls options for unit, how does bankruptcy work in South Korea? - this is a similar (but a lot bigger) case where a big company in Korea were on the verge of bankruptcy.

This probably means that they could still be under their contracts but for a very very long time. It would be better for them to nullify their contracts and just leave if YG do ever decide to file for bankruptcy.

 

[Administrator2]

I don't think you guys understand how powerful YG is as a company, not just in entertainment but in general. It will take more than a mere embezzlement scandal to have them go bankrupt.

It's probably about artists finding another home, cause YG is at its down low.

 

[Darkseid]

When GD enlisted, I wonder if he had any clue exactly what kind of a mess he'd be returning to lol. So much has happened so quickly

 

[Evergreen]

A meeting about the way that they are going to save money or something like that maybe.

 

[QueenGirlCrush]

I don't think the company is closing down but if Dara or CL can get out of their contracts sooner then later...TBH I don't care about YGE besides BigBang so🤷‍♀️

 

[yeji]

I feel like something major is going on. It seems quite serious