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Emfesz goes to Supreme Court over failed court appeal

Gas and energy trader Emfesz will file a request for judicial review with the Supreme Court on a failed appeal of a decision annulling the sale of the company, Emfesz manager István Góczi told MTI on Wednesday.

The Court of Appeal recently rejected the appeal by Emfesz of a ruling in March by the Municipal Court of Budapest annulling the sale of the company.

The court annulled the sale because the judge found the language of the authorization allowing it to be unclear, Góczi said at the time of the ruling.

Góczi, under an authorization given him earlier, sold Emfesz to RosGas, a Russian-owned company registered in Switzerland, for a token price of $1 in May 2009. Mabofi Holdings, a company held by the owner of Emfesz’s former parent company, the Ukrainian businessman Dmitry Firtash, contested the purchase in court.

Emfesz’ gas trading license was suspended in January and later withdrawn. The company has not been active since.