Hernádi charged in lawsuit over INA; MOL not involved

Issues

The MOL Group announced today that its chairman and CEO, Zsolt Hernádi, has been named as a defendant in a private prosecution in Hungary. The case is pursued by a private individual and MOL shareholder against Hernádi in person. 

MOL is not a party to the lawsuit. The plaintiff claims that the loss of value in possessed MOL shares was caused by alleged improper and unlawful behavior in connection with MOL’s acquisition of management rights over INA Industrija Nafte d.d., Zagreb (INA). The case will be handled by a Budapest court.

The plaintiff, who is a former employee of MOL, chose a special type of procedure, so-called “private prosecution” after a claim submitted to the Hungarian state prosecution was rejected. The factual components of the private prosecution based on the allegations available from the Croatian and Hungarian media seem to be deemed inextricably linked to the present arrest warrant request by Croatian authorities.

Hernádi has previously demonstrated to the MOL board of directors’ full satisfaction as to why the allegations are unfounded and the case is without merit.

MOL Group acknowledges the fact that the resolution of the Hungarian state prosecution to dismiss any request in this respect remains unchanged; the group further stated that it considers the case a matter of private prosecution handled by the competent court as a fair and independent court case and trusts that the court will review the facts thoughtfully and in the most appropriate manner.

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