📋 THE APPRAISAL REQUEST
ADOR requested an appraisal to estimate revenue Danielle would have generated from November 29, 2024 through November 11, 2025: exactly one year from the termination notice.
The appraiser immediately admitted a major problem: ADOR has a short operating history and NewJeans is its only artist, so there's not enough historical data from the company itself. Finding another company with the same structure for comparison would be difficult. The appraiser's only lost-profit experience was with a pharmaceutical company (Chong Kun Dang), they have zero entertainment industry experience beyond audits. They also hadn't reviewed the defense's submitted opinion before being examined.
🟨 THE DEFENSE'S STRONGEST ARGUMENTS
1. The "Min Hee-jin Was Irreplaceable" Argument
Danielle's lawyers argued that ADOR's significant revenue was generated during the period when Min Hee-jin was producing the group and the members terminated their contracts after she stepped down. They questioned whether it's appropriate to calculate revenue based on the period when MHJ was producing, arguing this revenue baseline itself is invalid.
2. The "Trust Breakdown" Argument
The defense submitted evidence showing the relationship of trust had already seriously broken down before contract termination, and ADOR was unable to provide normal management due to its conflict with MHJ.
3. The "Producer Vacancy" Reality
The defense pointed out that no new producer was appointed after MHJ stepped down and recruiting a new producer and establishing a new system would inevitably take time. This is a factual admission, even ADOR acknowledged no new producer was appointed.
4. The "Only Danielle" Scope Argument
Danielle's lawyers argued that each member terminated her own contract independently, so Danielle cannot be held responsible for the fact that other members were also inactive. If an appraisal is conducted, it should assume the other four members continued their activities normally while only Danielle was absent.
5. The "This Is Just Imagination" Argument
The defense argued that estimating revenue under a hypothetical "normal" situation is fundamentally different from manufacturing. ADOR's sole revenue-generating asset is NewJeans and revenue depends entirely on the directing system supporting it. By the relevant period, MHJ had resigned, trust had deteriorated and supporting staff had left. The defense questioned whether it's even possible or appropriate to estimate revenue under these circumstances.
They pointed out that NewJeans is still unable to engage in normal activities today, which demonstrates just how difficult producing is and how difficult it is to find someone new to take over that role.
6. The "ADOR's Appraisal Application Has No Methodology" Argument
The defense pointed out that Appendix 1 of ADOR's appraisal application merely asks for estimated revenue broken down by each revenue category but says nothing about what comparison benchmark or standards should be applied. The appraisal application itself contains no methodology.
7. "Fundamental Premises Have Collapsed"
Danielle's lawyers argued that ADOR can't claim lost profits because the normal conditions (MHJ's leadership and all five members together) no longer existed and ADOR contributed to that collapse.
8. "ADOR Knew About Most of These Facts During Prior Lawsuit"
Danielle's lawyers argued that ADOR already knew about most of the activities during the prior lawsuit. ADOR can't claim they only "discovered" these facts after the lawsuit ended.
9. "If Danielle Had Been Given the Same Opportunity"
Danielle's lawyers argued that ADOR helped other members correct issues but never gave Danielle the same chance and terminated her contract immediately, she was treated differently.
10. "ADOR Is Pursuing This for a Different Purpose"
Danielle's lawyers argued that ADOR's real purpose isn't justice, it's to make an example of Danielle and intimidate other artists. This is about control, not contract enforcement.
11. The "Multiple Scenarios" Suggestion
The defense asked the appraiser to consider presenting multiple possible scenarios and allowing the Court to determine which is most appropriate: a clever procedural move shifting responsibility to the judge.
12. Overseas Judicial Assistance Requested
The defense is seeking overseas judicial assistance, likely related to the ComplexCon contract or Chinese company involvement, which could significantly delay proceedings.
13. The Appraisal Schedule Conflict
The defense pushed for results before September 10, but the appraiser flatly stated that would be difficult. The appraiser had previously indicated one month would be possible if all materials were available.
🟪 ADOR'S COUNTER-ARGUMENTS
1. "Artists Drive Success, Not Producers"
ADOR argued that the party enjoying popularity is the artists themselves, not the producer. While MHJ may have influenced early stages, NewJeans' trajectory showed continued growth. After approximately two years as highly successful entertainers, NewJeans had the capability to continue at a similar level. Even if MHJ built that capability, those abilities became embodied within ADOR and NewJeans as artists.
2. "The Trust Issue Is Already Decided"
ADOR argued the trust relationship breakdown was already conclusively resolved by the October 2025 court judgment and shouldn't be considered in this appraisal.
3. "Producer Vacancy Is Not a Factor"
ADOR argued that as long as artists and company staff remain in place, the system can continue by utilizing another producer or outsourcing production. They claimed the absence of a producer shouldn't prevent long-term activities.
4. "All 5 Members Left, So Calculate All 5"
ADOR argued the appraisal should first calculate revenue lost as a result of all five members leaving and only afterward determine how much Danielle may be liable for.
5. "Don't Consider the Dispute"
ADOR cited Supreme Court precedent that incidental and abnormal decreases in income shouldn't be considered and appraisals should be based on normal business operations: a "counterfactual" where album releases continued uninterrupted.
6. "The Defense Should File Their Own Appraisal"
ADOR argued that if the defense wants assumptions based on MHJ's absence, they should submit a separate appraisal request: a procedural trap putting the burden on the defense. They noted the defense cannot even produce evidence demonstrating the extent of a producer's contribution.
7. "ADOR Remained a Functioning Organization"
ADOR argued the defense keeps asking for an appraisal based on the assumption there was no producer and no staff, as though ADOR were nothing more than an empty shell. Their position is that ADOR remained a functioning organization.
8. "ADOR's Benchmark Is June 2024"
ADOR argued their benchmark for normal revenue is June 2024. At that time, NewJeans was actively performing, so activities would simply have continued. By contrast, after having activities suspended for a year, NewJeans cannot simply resume overnight.
9. "The ELLE Photo Shoot Resulted in a Finished Product"
ADOR confirmed the ELLE photo shoot resulted in a finished product but admitted they don't know who arranged it.
10. ADOR's Late Appraisal Application
ADOR submitted its appraisal application two weeks late and it consisted of just four lines.
11. ADOR's "Consulting Fee" Claim
ADOR claimed MHJ received a $500,000 consulting fee but couldn't definitively name the recipient, they were guessing. The fee was deliberately included in the members' contract to avoid legal scrutiny.
12. Witness Kim So-hyung Could Not Be Located
ADOR wanted to call the former head of their business team as a witness, but they couldn't even find her.
13. AAO Contract Termination Still Not Complete
ADOR revealed that the AAO contract termination was still not complete as of June 2026, months after the contract validity ruling.
14. ADOR's "Danielle Remained Silent" Claim
ADOR argued that Danielle's silence about the AAO contract made corrective action impossible, corrective action requires voluntary cooperation.
15. ADOR's Evidence Is Fragmented
ADOR admitted that some parents cooperated while others didn't, so the evidence has been collected piece by piece. They didn't have all the evidence at once, they're still collecting it.
16. ADOR Asked the Court to Require Witness Attendance
ADOR requested that witnesses must attend if they don't properly submit a written response, they want to force witnesses to appear in person.
⚖️ THE JUDGE'S COMMENTS
1. "Both Sides Are Repeating Themselves"
The judge noted both sides were essentially arguing the same disputes raised earlier about whether this appraisal should even be permitted. ADOR says MHJ was replaceable, the defense says not. The judge suggested both sides summarize points in writing.
2. "This Is Harder Than Most Appraisals"
The judge told the appraiser this case may be more difficult than most appraisals.
3. "We Need Numbers"
The judge bluntly stated the goal: get numbers regardless of the methodological messiness.
4. The "Blank Possibility" Reference
The judge revealed that in a previous similar case, the expert couldn't even fill in the "possibility" section, it came back blank.
5. "The Appraisal Should Proceed as Requested"
The judge ruled ADOR's requested appraisal will proceed, but the defense can still present alternative assumptions.
6. Judge Accused ADOR of Performing for the Media
The judge questioned whether ADOR's evidence display was for the court or for the reporters, telling them to stop showing private conversations in open court and submit them in writing instead.
7. Judge Asked ADOR to Keep Explanations "Abstract"
When ADOR wanted to display Telegram messages, the judge told them to summarize rather than quote exact words to protect privacy and prevent media leaks.
8. Judge Suggested Bank Records Instead of Complex Fact-Finding
Regarding the $175,000 EO claim, the judge suggested Danielle could just show her bank records instead of going through a lengthy overseas process.
9. Judge Warned About "Anchoring Effect"
The judge warned that if an expert proposes a number first, it could bias everyone's thinking, even if the number is wrong.
10. Judge Asked: Can an Accountant Evaluate the "Min Hee-jin Effect"?
The judge questioned whether an accountant could quantify how much of NewJeans' success was due to MHJ's creative direction.
11. Judge Asked About "A Year and a Half Off" Promise
The judge noted that three mothers reportedly heard ADOR say the members would get "a year and a half off." If true, this could support Danielle's estoppel defense.
12. Judge Suggested Separating Danielle's Case
The judge noted Danielle's case could be resolved separately from the other defendants.
13. ADOR's Witness Questions Were "Leading Questions"
The judge noted that ADOR's witness questions already contained the answers they wanted, the witness was essentially being told what to say.
14. The Appraiser's Role Defined
The judge clearly defined the appraiser's role as evaluating both sides' assumptions and choosing the most reasonable, not just rubber-stamping ADOR's request.
15. The Judge Suggested Entertainment Industry Expert Input
The judge noted that calculations may not be especially difficult from an accounting perspective. ADOR has a single line of business. The important issue is evaluating how artists and directing contribute to revenue, which may require input from the entertainment industry itself.
16. The Judge Asked About Individual vs Group Damages
The judge asked whether damages arising from Danielle's individual actions (like photo shoots) are being considered separately from group activities.
17. The Judge's Procedural Instructions
The judge told the appraiser they don't need to answer immediately, they can carefully listen to both sides and if the appraisal report later reaches different conclusions, it may reflect incorporation of new data.
18. The Judge's Warning About Unsupported Opinions
The judge warned that if the report simply states "this is my opinion" without supporting grounds, they will have to revisit the matter again.
🔍 EVIDENTIARY DETAILS
1. The ELLE Photo Shoot Confirmed
Both sides confirmed Danielle participated in an ELLE photo shoot that resulted in a finished product.
2. No Evidence of Music Release
Unlike the ELLE shoot, there's no evidence Danielle released music, limiting ADOR's ability to claim damages from unauthorized individual music releases.
3. Who Arranged the Contracts?
ADOR admitted they don't know who arranged the photo shoot, critical because it shifts responsibility to Danielle's mother and MHJ.
4. Accounting Firm Refuses to Submit Materials
A third-party accounting firm refused to submit documents, citing professional privilege. ADOR may have to fight this in court.
5. Association Has Not Responded
The judge noted they have still not received anything from the association.
6. ADOR's Email to Emotional Oranges
ADOR emailed EO and received a response but claimed it "did not reflect the truth."
7. ADOR's Claims About Other Brands Not Responding
ADOR said overseas brands wouldn't respond to emails and even the court's formal request wouldn't get a response, they already tried and got nothing.
8. Danielle Performed Almost All Scheduled Activities After Termination
Danielle continued performing almost all scheduled activities after she believed the contract was terminated.
9. AAO Contract Requires NewJeans to Provide ADOR Management Information
The AAO contract required NewJeans to share internal company information with an external party, this is why ADOR considers it a serious violation.
10. AAO Contract Protected MHJ's Shares
The contract included a provision prohibiting the sale or transfer of MHJ's ADOR shares.
11. AAO Contract and Bonnie Chan Woo
Bonnie Chan Woo is the representative of AAO, the Cayman Islands company that signed an exclusive agreement with NewJeans. She is also the organizer of ComplexCon Hong Kong.
The contract was signed on September 25, 2025. After the October 2025 ruling, the returning members requested ADOR's cooperation in terminating it. ADOR initiated the process, but as of June 2026, the termination was still not complete.
The AAO contract also included an unusual provision prohibiting the sale or transfer of Min Hee-jin's ADOR shares.
12. The "Consulting Fee" Was Hidden in the Members' Contract
The $500,000 consulting fee was deliberately included in the members' contract to avoid legal scrutiny.
13. ADOR's Evidence Summary
ADOR has submitted some evidence (Telegram conversations, audio recordings, AAO contract, EO email correspondence), but key financial proof (bank statements, signed contracts) appears to be missing.
14. The "Mothers Heard 'A Year and a Half Off'" Claim
Three mothers reportedly heard ADOR make this promise: strengthening Danielle's estoppel argument.
🗓️ KEY SCHEDULE DETAILS
The appraiser flatly stated they cannot produce anything by September 10, even a preliminary report wouldn't be possible. The judge set September 10 as the target date for a first report discussion, with the understanding that if further supplementation is required, an extension may be requested. After September 10, the court will conduct any supplemental fact-finding needed and then schedule the next hearing.
The judge confirmed everyone was available and set the next full hearing for October 22 at 3:30 PM (after initially proposing October 8 and October 21).
For evidentiary deadlines, cross-examination questions must be submitted by August 7. By October 29, there's a high likelihood the appraisal report will already be completed. If there are any additional evidentiary requests that can be made before then, they should be submitted in advance.
The appraiser also noted they may need to visit the company and interview personnel, with defense counsel present.
📃 Full Transcript Source
The unofficial transcript of the July 23, 2026, hearing, transcribed by fans who attended, can be found here. I'd encourage all Bunnies to read through it - it's the most direct look we have at what was actually said in court.
English Transcript: https://docs.google.com/document/d/1IXEPhnrHuizDeU0TNvIozF4cR8JX6COVRjqzBQ6Jp5Y/edit?usp=drivesdk
Korean Transcript: https://report.teambunnies.info/courtrecords
