Kutle walked out of the detention centre at about 13:30 hrs and was welcomed by his wife and lawyers. He declined to give any statement to reporters waiting for him.
However, his lawyers were willing to comment on the County Court's decision.
Lawyer Ante Nobilo said he was satisfied with the quashing of the first-instance ruling, and added that the first-instance ruling was full of serious breaches of laws.
Nobilo went on to say that he was also satisfied as a citizen of this country, stressing that "everyone wants to live in a country in which everyone, including Miroslav Kutle, is entitled to a fair trial".
The other lawyer, Rajko Mlinaric, said the ruling of the municipal court had to be quashed due to many irregularities.
The ruling could not have been changed. In such a situation the only alternative is to quash the ruling, which means that it represented the gravest form of breach of the penal code, Mlinaric said.
He explained that the retrial would now ensue at the municipal court and that the defence team would insist that it should be conducted by a new panel of judges. The new panel will also decide on a date for the start of the retrial.
Kutle was sentenced to six and a half years' imprisonment on 9 July this year. He was sent to custody until the final ruling.
Other indictees in the Tisak scandal were given lighter sentences. Kutle's associates Bozidar Maric and Petar Anic were sentenced to four years in prison, Krunoslav Marcinko and Milena Senator to a year and eight months, and Ivan Majic to a year and a half.
Stanko Koncul was given a suspended sentence of eight months.
Another six indictees, former managers of Tisak and Kutle's business partners, were acquitted.