MOL: factual misconceptions in the comments of the initial ruling of the former Prime Minister of Croatia

23-11-2012 — / — Following the sentence announced by the Zagreb County Court yesterday, MOL issued a statement noting that this was an initial ruling and that we continue to reject categorically the accusations made against MOL as part of the case against the former Prime Minister of Croatia.

It is not for MOL to comment on the existing and other pending charges made against the former Prime Minister of Croatia that do not relate to MOL. However, on the charges that do relate to MOL, we have now studied the comments made by the Court, in providing the reasoning behind his decision.

Having studied these comments, we have concerns with some of the statements made and factual misconceptions in support of this initial ruling – which we hope will be corrected in due course.

First, we note that no substantive evidence has been provided to the court in support of the specific charges as they relate to MOL.

Second, a number of comments made in relation to the corporate structure at INA and to MOL’s corporate governance procedures and actions in relation to INA are simply factually incorrect.

Third, we would query whether the procedures followed with regard to the claims made against MOL would be considered compatible with established legal procedures elsewhere in Europe. As the largest foreign investor in Croatia we reserve our rights to take action internationally if this should be necessary.

MOL will be providing details of our concerns in due course.

MOL will review its position further once the defence of the former Prime Minister decides whether to appeal and once a final verdict on the case has been reached. We meanwhile reaffirm that our intentions have always been positive in acquiring our shareholding in INA, built up over many years before as well as during Mr Sanader’s premiership. As the largest foreign investor in Croatia we want to contribute to make INA a successful and profitable company.



Comments are closed.