The Herzegovina-Neretva cantonal court has acquitted the accused, the presiding judge of the trial chamber in this case, Hamo Kebo, said today.
Judge Kebo said that the prosecutors did not establish the abuse of powers or office as they did not establish that the accused had ensured a personal gain or overstepped their powers.
The court also took into account the evidence provided by Covic's defence team showing that at the time when 51 per cent of Eronet shares were transferred from HPT to the private firms Croherc, Alpina Komerc and Hercegovina Osiguranje, to which HPT owed money for the construction work performed, he was not the chairman of the HPT managing board.
The other people acquitted in this case are former HPT director Marinko Giljo, and managing board members Vladimir Soljic, Slavica Josipovic, Neven Djukic, Matan Zaric and Ivan Backo.
All the accused had pleaded not guilty to the charges.
The court ruling is subject to appeal.