BPiperDude
StanSorry to say this but what you are assuming was said in X1's case was NOT said. They said they are in discussion to resumed activities and such. In IZ*ONE's case they will be resuming activities as they are keeping the rights to the contract. In X1's case they are in discussion with parties to resume activities. Its not a done and shut case. Personal opinion is that they will resume the activities BUT that the contract length of 5 years will get amended to something less than that. 3 or 2.5 BUT THAT IS JUST AN OPINION. As he X1 members never signed a contract the whole thing is still in limbo. Also here is a breakdown of what was said and what it really means.
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A quick explanation of what he talked about in Legaleeze to plane English.
1. He acknowledges that the company is at fault and legally and has the obligation to provide compensation to afflicted parties. IE) that is people that were not placed but should have been and people who were place but should not have been and their reputations have been ruined by them being a rigged member. Works both ways. (NOTE HE DOES NOT SAY HE IS PERSONALLY RESPONSIBLE. Just that as head of the company he takes responsibility for the actions of the company)
2. They are going to go into arbitration with the afflicted members and companies to work out a deal. (Note that if that deal is agreed on then its a done thing. If not then lawsuits happen. This is common. Arbitration first and if that doesn't succeed - courts.
3. They will not put a outed member in IZ*ONE unless , CJENM, OFF the Record, and the participants company ALL agree to it. IE) They won't offer it but if the other company demands it then it may happen.
4. They will forgo profit from IZ*ONE activities. This is company profit not operational expenses. IE) The members, managers, hairdressers etc... will still be paid as per their original contracts. But any extra money that CJENM or MNET receive do to royalties will instead be put into a fund. Usually profit is maybe 3-20% of the $ or so being received this is what is called a margin. That will be probably the hardest part to monitor or verify. It depends how independent and thorough the other company is. Does this promoting of kpop mean some of the money could come back to CJENM. (yes)
5. The 25.9 million dollars is for all produce series manipulation and is an estimate and not what they are forking over to the independent company. Could be more could be less depending on how successful X1, IZ*ONE, and FROM IS9 is. They didn't limit it produce series only.
6. They will attempt to re-start X1, IZ*ONE and FROM_IS9 as soon as possible but they can't guarantee when for IZ*ONE or FROM_IS0, or when AND IF for X1. FROM_IS9 is still in limbo and they don't know if there was manipulation there.
7. The contract with IZ*ONE members is still valid and they are keeping their rights to them and they can't go back to their old agencies until the 2.5 year term is finished (Mid 2021).
8. The contract with X1 is not finalized and they are discussing. IE) they could remain or disband but this affects X1 only.
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A quick explanation of what he talked about in Legaleeze to plane English.
1. He acknowledges that the company is at fault and legally and has the obligation to provide compensation to afflicted parties. IE) that is people that were not placed but should have been and people who were place but should not have been and their reputations have been ruined by them being a rigged member. Works both ways. (NOTE HE DOES NOT SAY HE IS PERSONALLY RESPONSIBLE. Just that as head of the company he takes responsibility for the actions of the company)
2. They are going to go into arbitration with the afflicted members and companies to work out a deal. (Note that if that deal is agreed on then its a done thing. If not then lawsuits happen. This is common. Arbitration first and if that doesn't succeed - courts.
3. They will not put a outed member in IZ*ONE unless , CJENM, OFF the Record, and the participants company ALL agree to it. IE) They won't offer it but if the other company demands it then it may happen.
4. They will forgo profit from IZ*ONE activities. This is company profit not operational expenses. IE) The members, managers, hairdressers etc... will still be paid as per their original contracts. But any extra money that CJENM or MNET receive do to royalties will instead be put into a fund. Usually profit is maybe 3-20% of the $ or so being received this is what is called a margin. That will be probably the hardest part to monitor or verify. It depends how independent and thorough the other company is. Does this promoting of kpop mean some of the money could come back to CJENM. (yes)
5. The 25.9 million dollars is for all produce series manipulation and is an estimate and not what they are forking over to the independent company. Could be more could be less depending on how successful X1, IZ*ONE, and FROM IS9 is. They didn't limit it produce series only.
6. They will attempt to re-start X1, IZ*ONE and FROM_IS9 as soon as possible but they can't guarantee when for IZ*ONE or FROM_IS0, or when AND IF for X1. FROM_IS9 is still in limbo and they don't know if there was manipulation there.
7. The contract with IZ*ONE members is still valid and they are keeping their rights to them and they can't go back to their old agencies until the 2.5 year term is finished (Mid 2021).
8. The contract with X1 is not finalized and they are discussing. IE) they could remain or disband but this affects X1 only.