Croatian government: MOL’s threat taken very seriously

Interview

Yesterday, BBJ reported that Hungary-based oil-and-gas giant MOL had raised the stakes in the company’s ongoing battle with the Croatian government over the fate of Croatia-based INA with a €264 million lawsuit alleging breach of contract. The prospective defendant’s response? The headlines today say it all in some riff on “Croatian government takes seriously MOL threat to sue.”

Yesterday, BBJ reported that Hungary-based oil-and-gas giant MOL had raised the stakes in the company’s ongoing battle with the Croatian government over the fate of Croatia-based INA with a €264 million lawsuit alleging breach of contract. The prospective defendant’s response? The headlines today say it all in some riff on “Croatian government takes seriously MOL threat to sue.”

Croatia-based Jutanarji List followed up on its own story on the ratcheting-up of matters before negotiations between the parties begin next week with a second on the subject, capturing Deputy Prime Minister Branko Grčić and Finance Minister Slavko Linić on the defensive in response to MOL’s threat.

On his part, Linić applied that spin seen in national politics throughout the world, namely blaming the former ruling party for “failing to observe the terms of the shareholders agreement signed with MOL,” also saying that “MOL has made a serious threat to be dealt with seriously.”

Meanwhile, Grčić was quoted as admitting that MOL indeed does have proper legal basis to file suit; when asked whether said acceptance indicated that MOL would have the upper hand in negotiations beginning September 18, Grčić deferred in saying that matters “would not be judged in this way.”

Yesterday’s Jutanarji List reported both sides as having consulted with US-based law firms recently, presumably in preparation for such a legal eventuality.

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