44

4

News

Polaris Entertainment reportedly loses lawsuit concerning LOONA to Japanese IT company DONUTS

AKP STAFF
Posted by Germaine-Jay Thursday, October 17, 2019

Polaris Entertainment has reportedly lost a lawsuit concerning LOONA to Japanese IT company DONUTS.

According to reports, Polaris Entertainment and CEO Lee Jong Myun have been ordered by the Seoul Central District Court to pay DONUTS 360 million Won ($304,723.44 USD) in guarantees and damages. Polaris collaborated with DONUTS in 2017 to invest in the LOONA project, receiving 400 million Won ($338,822.48 USD), and the label has reportedly failed to repay 360 million Won.

DONUTS claimed the company invested into Polaris on the condition LOONA streams live on the app MyLive, but they did not upload the agreement or repay the investment. Polaris stated, "We've yet to repay the loan. The company plans to repay the loan. The lawsuit is pending."

Stay tuned for updates on the lawsuit, Polaris Entertainment, and LOONA.

  1. LOONA
  2. POLARIS ENTERTAINMENT
19 32,679 Share 92% Upvoted
 
whatever101
whatever10111,925 pts Thursday, October 17, 2019 6
Thursday, October 17, 2019

I swear if LOONA goes the same path of PRISTIN I’m gonna be pissed

11 (+13 / -2)
Share

6 more replies

 
Titannes
Titannes577 pts Thursday, October 17, 2019 0
Thursday, October 17, 2019

sometimes i forget how much money goes into comebacks for groups over a quarter of a million dollars went into loona 😵 id be upset and going to court too if i shelled out that much money and never got any returns and the agreements were never met till now as well , o.o heck their last comeback was months ago 😨 yikes

6 (+7 / -1)
Share

SHOW ALL COMMENTS

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Jiyeon
T-ara’s Jiyeon draws attention with warm family moments after divorce
8 hours ago      11,828
misc.
Jin Ki Joo becomes first actor to sign with agency co-founded by Cha Tae Hyun and Jo In Sung
23 hours ago      8,014
Jooyeon, G-Dragon
G-Dragon and Jooyeon spark renewed dating rumors based on recent Instagram Story
11 hours ago      37,506
misc.
Actors Lee Tae Kyung and Woo Ji Hyeon tie the knot
18 hours ago      8,699
Epik High, Jang Jae In, John Park
Mass artist withdrawal hits 'Youth Weather Night Festival'
1 day ago      20,066
Ma Dong Seok
'Holy Night: Demon Hunters' leads box office ahead of official release
11 minutes ago      137
IU
Singer and actress IU dazzles in J.ESTINA's 'ALL MY LOVE' jewelry campaign
50 minutes ago      746
Big Bang, Taeyang, G-Dragon, Daesung
Daesung concludes first solo concert in Korea with heartfelt performances and Big Bang reunion
2 hours ago      1,579
Son Dam Bi
Son Dam Bi shares glimpse into joyful motherhood after welcoming daughter Hae I
2 hours ago      2,275
Kim Sa Rang
Kim Sa Rang stuns viewers with bold transformation on 'SNL Korea'
3 hours ago      2,278
Jin
BTS’s Jin and Coldplay’s joint performance heats up social media
5 hours ago      3,101
Son Dam Bi
Son Dam Bi shares glimpse into joyful motherhood after welcoming daughter Hae I
2 hours ago      2,275
Kim Sa Rang
Kim Sa Rang stuns viewers with bold transformation on 'SNL Korea'
3 hours ago      2,278
Jin, Ji Ye Eun, Kian84
Netflix’s 'Kian’s Bizarre B&B' combines Jin’s star power with outrageous fun
7 hours ago      3,112
Jiyeon
T-ara’s Jiyeon draws attention with warm family moments after divorce
8 hours ago      11,828
New Message

SEND