Following the sentence announced by the Zagreb County Court on Tuesday, the Hungarian oil company MOL issued a statement on Wednesday continuing to reject categorically the accusations made against MOL as part of the case against former Croatian prime minister Ivo Sanader.
"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," the Hungarian company said in the statement.
"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," read the statement.
MOL believes that no substantive evidence was provided to the court in support of the specific charges as they relate to MOL.
The company added that 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 were factually incorrect.
"...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 said.
"MOL will be providing details of our concerns in due course," the statement said.
"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," the statement read.
The Zagreb County Court on Tuesday found Sanader guilty of war profiteering in the Hypo Alpe Adria Bank case and of bribe-taking from the CEO of the Hungarian oil company MOL in 2009 in exchange for ensuring it controlling rights in the INA oil company. He has the right to appeal.
MOL aspired to acquire as many shares as possible, which is quite legitimate, but it should not have attained that goal unlawfully, that is through bribery, presiding judge Ivan Turudic said explaining the verdict.
"The court finds that the amended shareholders' agreements between MOL and INA were contrary to the interests of the Republic of Croatia," Turudic said.
