Hernádi's case to continue in December

Issues

The controversial case against Zsolt Hernádi, chairman-CEO of Hungarian oil and gas company MOL, is scheduled to continue at a Budapest appeals court in December, Hungarian daily Magyar Nemzet said on Tuesday, citing information received from the Budapest court.

Hernádi’s case was dropped by a Budapest court in a non-binding ruling at the end of May.

A MOL shareholder and former employee pursued the case against Hernádi following the Hungarian prosecution’s rejection of the claim. MOL was not a party to the lawsuit.

The plaintiff charged Hernádi with international bribery and fraud causing significant financial damages. She claimed to have lost HUF 28 mln on MOL stock after the publication of allegations that MOL had acquired management rights in Croatian peer INA through bribery.

Hernádi's legal representative declared at the time that they trusted the Croatian court would not disregard the Hungarian court's ruling.

However, the Zagreb county court said on June 10 that charges of bribery and organized crime against Hernádi, as pressed by Croatian anti-graft authorities, were substantiated. Croatia's anti-corruption prosecutor's office USKOK raised charges against Hernádi in March on chrages that he had bribed former Croatian Prime Minister Ivo Sanader with millions of euros to obtain management rights in INA.

MOL and Hernádi have both denied the allegations on numerous occasions, the paper noted, despite the leaked recording of a Polish official and a Polish CEO indicating that Hernádi was planning to clear himself in Hungary on the controversial case with INA, thereby gaining immunity in his Croatian case.

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