A Hungarian court cleared Mol Nyrt. Chairman Zsolt Hernadi of bribery charges in the acquisition of Zagreb-based refiner INA Industrija Nafte d.d., as Croatian authorities pursue the company’s chief in a parallel case.
Croatia’s Supreme Court upheld a guilty verdict against former Prime Minister Ivo Sanader for taking bribes from Hungarian refiner Mol Nyrt. and Austria’s Hypo Alpe-Adria-Bank International AG, a court official told state radio.
Hungary failing to reach a bailout agreement with the International Monetary Fund would raise the risk of the government extending special industry taxes, said the head of the country’s largest company.
Croatia proposed talks with Hungary’s Mol Nyrt. over the “future and history” of the jointly owned INA Industrija Nafte d.d. just weeks after Croatian prosecutors renewed investigation into Mol’s Chairman Zsolt Hernadi’s role in the 2009 acquisition.
Zsolt Hernadi, the chairman and chief executive officer of Mol Nyrt., Hungary’s largest refiner, arranged a domestic lawsuit against himself to preempt a Croatian trial, according to the transcript of a purported leaked recording of PKN Orlen CEO Jacek Krawiec.
Hungarian Prime Minister Viktor Orban’s government said it would fight a Croatian arrest warrant against Mol Nyrt. Chief Executive Officer Zsolt Hernadi and told the company to consider selling its Zagreb-based unit.